As of June 2022, Ukraine's recovery needs were estimated by the World Bank and the European Commission at USD 350 billion. Now, this amount may exceed USD 600-750 billion. Prime Minister of Ukraine Denys Shmyhal announced during the opening of the Rapid Recovery of Ukraine Business Forum held in Luxembourg with the participation of Prime Minister of Luxembourg Xavier Bettel.

"When we talk about recovery, we think not only about the distant future. Reconstruction should begin now. The lives and health of millions of people depend on it," emphasized Denys Shmyhal.

According to the Prime Minister of Ukraine, five priorities have been identified for financing rapid recovery.

The first is energy. According to Denys Shmyhal, more than 400 power and heat supply facilities have been damaged as a result of russian attacks. Ukraine seeks not only to restore the energy network, but also to decentralize it, which will make it less vulnerable and guarantee the availability of electricity in Ukrainian homes and businesses, the PM emphasized.

"The second priority is housing. At the end of last year, the damage to the housing stock amounted to USD 54 billion. 150,000 buildings were either damaged or destroyed. Their restoration will be a prerequisite for the return of hundreds of thousands of Ukrainians from abroad," the Prime Minister of Ukraine said.

According to him, the third priority is humanitarian demining. More than 30% of Ukraine's territory is contaminated with russian shells and it will take at least 5 years to clean it up: "The work is already underway, but we need resources to make it more efficient."

The fourth priority, as noted by the Head of the Ukrainian Government, is critical and social infrastructure: roads, bridges, utilities, water, heat and gas supply networks, schools and hospitals. The fifth priority is to help the private sector.

The Prime Minister of Ukraine emphasized that these plans should be backed by financial resources. First of all, by confiscated russian assets. It will also include funds from the state budget, international partners and donors on the United24 platform.

Denys Shmyhal thanked the Government of Luxembourg for its consistent and unwavering support of Ukraine: "We appreciate such solidarity and believe in the success of our joint efforts."