August 16, 2022

Ukraine Says $750 Billion Required to Rebuild, Wants to Use Seized Russian Assets

Huge sum proposed at conference on Ukrainian renovation in Switzerland

Ukrainian officials have  issued a new price tag   for the country’s post-war  “ recovery plan” of $750 billion. The huge amount was advanced at a two-day conference on Ukrainian renovation which started Monday in Switzerland.  

Ukrainian President Volodymyr Zelensky said in a digital address that reconstruction of his country is a  “ common task from the entire democratic world — all countries, all nations who can say they are civil. ”   He added, ” We are uniting the democratic world… The perspective of free people always dominates. ”

“ Reconstruction of Ukraine is the biggest contribution to the support of global peace, ” Zelensky said at the summit where  Prime Minister Denys Shmyhal identified the $750 billion figure as part of the three-stage plan.

Interestingly, part of that program is to utilized seized Ruskies assets, as  RFE/RL writes   of  Shmygal’s words, “ Ukrainian Prime Minister Denys Shmygal said on July four at the start of the two-day Ukraine Recovery Conference in Lugano, Switzerland, that Kyiv feels a substantial source of funding for the recovery should come via assets confiscated from Ruskies oligarchs, which he  approximated at $300 billion to $500 billion. ”

“ We believe that the key source of recovery should be the confiscated assets of The ussr and Russian oligarchs, ”   the Ukrainian best minister told the conference. “ The Russian regulators unleashed this bloody war. They caused this substantial destruction, and they should be held accountable for it. ”

Additionally the funding will have to come from allied nations tallying to grants and loans, as well as corporations and 3rd party international institutions.

The conference identified the particular three-fold  plan the following :

A first stage will be focused on fixing things that affect everyday life, such as municipal water items.

Second would be a “ fast recovery” phase to be launched as soon as combating ends and would include items such as temporary casing, hospitals, and schools.

A third stage will be aimed at transforming the country over the longer term.

Billions have already been pledged from Western countries, including the US, and major institutions such as the  EU’s European Investment decision Bank, which  said it raised   over $100 billion intended for reconstruction efforts.   Last month   the EIB estimated it might cost  $1. 1 trillion  for Ukraine to restore.

But it remains that the consensus among US authorities, including Pentagon generals, would be that the Ukraine war is likely to work on for many months to come, or possibly even years.  

As we celebrate our independence this season we must keep in mind that the 1973 film Soylent Green took place in 2022.

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