10 key aspects of Ukraine's recovery

Ukraine is currently considering 10 key aspects of Ukraine's recovery, which include damage assessment, recovery steps, transparency, and sources of funding.

The eighth aspect of Ukraine's recovery addresses funding sources for recovery.

According to Shmyhal, one of the key issues that Ukraine is constantly facing is who will pay hundreds of billions for the recovery.

"First of all, Russia must pay for what it destroyed," the Prime Minister emphasized.

He said that fair mechanisms are being prepared to confiscate up to $500 billion of Russian frozen assets.

• In May, a historic decision was made at the Council of Europe meeting to create a register of damages caused by Russia's aggression against Ukraine. It is the first component of the International Compensation Mechanism.
• The second source of funding for reconstruction is the Ukrainian budget, including funds from confiscated Russian assets in Ukraine. "The Ukrainian budget for 2023 already allocates $3.3 billion, and we have already started reconstruction with these funds," Shmyhal said.
• The third source is the financial aid from international partners, including international financial organizations.
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"Our partners have already pledged $4.3 billion of the total $14 billion needed for rapid recovery over the next 12 months. But we still need another $6.5 billion. We have set ourselves an ambitious goal to get a collateral for this amount following this conference," Shmyhal said.

Source: Suspilne.Media