Op-Ed by Prime Minister of Ukraine Denys Shmyhal for the Italian newspaper Il Sole 24 Ore

Recovery of Ukraine will be the largest project since World War Two

russia has inflicted unprecedented devastation on Ukraine, not seen in Europe since the Second World War. Almost a third of our territory is contaminated with mines and shells. Tens of thousands of homes have been destroyed, thousands of hospitals and schools have been ruined, and the power grid has been affected by 50%. russian bombs, missiles and shells have wiped out hundreds of towns and villages.

The World Bank has conducted a thorough analysis of the destruction in the areas currently free of hostilities and russian presence. This analysis determined that the needs for rebuilding Ukraine already amount to USD 411 billion. Unfortunately, this is not the final figure.

Ukraine is working with partners on its Marshall Plan. After the Second World War, such a plan helped Europe and Italy to recover.

Ukraine's recovery will be a victory not only for us. Such a programme could become one of the key boosters for the European economy in the 2020s.

Italy is the third economy of the European Union. Italian companies can play a major role in Ukraine's Recovery Plan. We are already inviting Italian businesses to cooperate, as the implementation of the Recovery Plan starts this year.

Our Government has identified several core sectors that will form the basis for economic recovery and transformation.

First, it is the military-industrial complex. Europe must be ready to defend itself, and this means a significant increase in the production of weapons and equipment. This means investments, new technologies, and jobs. The Italian defence industry can become one of the leaders on this path.

Energy. Ukraine has the second largest natural gas reserves in Europe and the largest gas storage facilities. Moreover, Ukraine has an extraordinary potential to generate clean electricity, thus contributing to the green transition and energy independence of Europe.

Agricultural sector. Ukraine has already become one of the world's major agricultural producers. Before the war, this sector grew by 5-6% annually. Thanks to Government incentives and private foreign investment, this growth could reach double digits after the war.

Infrastructure. The enormous destruction of roads, bridges, and ports will require the involvement of dozens of companies from around the world in the reconstruction.

IT sector. We have ambitions to become a digital hub in Europe. The Ukrainian Government offers one of the most favourable conditions for IT companies in terms of taxes and regulations. The number of specialists is growing every year, perhaps the fastest in the world, and this opens up new horizons for investment and cooperation.

We have an ambitious plan to be fully prepared for EU accession in two years. We believe that we will win the war and liberate our lands. We know that together with our allies we will implement an extraordinary recovery programme that will benefit not only Ukraine, but also Italy and the whole of Europe. The future starts today, not tomorrow.