Oleksii Sobolev: We should talk not only about reconstruction, but also about rethinking Ukraine's economy
A high-level discussion entitled "Economy of the Future: Building a New European Tiger" was held in Davos as part of the World Economic Forum Annual Meeting 2026, focusing on Ukraine's economic trajectory after the end of the war as well as the conditions for attracting investment.
The discussion brought together World Bank Group President Ajay Banga, Managing Director of the International Monetary Fund, Kristalina Georgieva, Deputy Prime Minister for European and Euro-Atlantic Integration of Ukraine, Taras Kachka, EBRD President Odile Renaud-Basso, and Minister of Economy, Environment and Agriculture of Ukraine, Oleksiy Sobolev. The discussion was moderated by Adviser to the President of Ukraine on Economic Development, Chrystia Freeland.
During the discussion, the heads of international financial institutions said that support for Ukraine should combine financing, reforms and measures that increase investor confidence. IMF Managing Director Kristalina Georgieva noted that the IMF had adapted its instruments to support Ukraine in the context of the war and stressed the importance of continuing reforms and anti-corruption measures to maintain the confidence of partners and the private sector.
World Bank Group President Ajay Banga stressed that Ukraine's recovery must include economic modernisation, private sector development and the introduction of technologies, in particular data-driven and artificial intelligence solutions. He also stressed that the long-term vision for development should be shaped and implemented under Ukraine's leadership.
A separate element of the conversation was the Economy of the Future, a financial model that the Ukrainian Government has been developing for about a year in collaboration with the World Bank. The model describes Ukraine's development trajectory for the post-war period and the next 15 years, and identifies the conditions that must be met for recovery to transition into sustainable economic growth.
"We must talk not only about reconstruction, but also about rethinking Ukraine's economy as one based on technology, data and artificial intelligence-based solutions, and supported by natural resources and the private sector. The key prerequisites are reforms in governance and the rule of law, as well as the promotion of European integration as a practical framework for change. A separate condition for such a restart is the privatisation of state-owned enterprises and modern models of private management that create conditions for investment and increase efficiency," said Oleksii Sobolev, Minister of Economy, Environment and Agriculture of Ukraine.
"Security is a basic condition for the economic development of both Ukraine and Europe itself, and its value will only increase if russia continues its aggressive policy. Prosperity is another pillar of future success, but it is impossible without security. European integration for Ukraine is a concrete and measurable list of tasks, and we are changing not ‘on paper’ but through real actions, even in wartime," stressed Deputy Prime Minister for European and Euro-Atlantic Integration of Ukraine Taras Kachka.
The key focus of the discussion was on what needs to be done to ensure that Ukraine's economic recovery is rapid and that growth is sustainable and predictable for investors. Participants discussed the need for reliable security guarantees as a basic condition for launching major investment decisions, the scale and priorities of rebuilding what has been destroyed, and how attracting new capital should work not only for recovery but also for increasing the productivity of the economy. Human capital was a separate topic: the return of people, the availability of personnel and policies that allow businesses to plan for development and invest in jobs.