Ukraine offers four main funding sources for “recovery plan”: details

Prime Minister Denys Shmyhal named the four primary funding sources for the Recovery Plan proposed by Ukraine. Among them are confiscated russian funds.

He said this at a joint briefing with the President of Switzerland, Ignazio Cassis, and the Secretary of Business, Energy and Industrial Strategy of Great Britain, Grant Shapps, the Government Portal reports.

According to the head of the Ukrainian government, the primary compensation for damages should be borne by russia. According to him, it is essential to develop appropriate international law mechanisms to hold the country accountable for crimes.

"We expect that, together with our partners, we will clearly designate the provisions about what resources should be used for long-term recovery," Shmyhal said.

In particular, Ukraine offers four primary funding  sources for the "recovery plan":

1. confiscated russian funds in Ukraine and the world;
2. funds from international partners, including global financial organizations;
3. funds directly from the state budget of Ukraine;
4. funds from donors and the private sector.

More about recovery plan

The briefing was held following the results of the meeting devoted to the Ukraine Recovery Conference, "From Lugano to London," at the World Economic Forum in Davos.

Shmyhal stressed that Ukraine presented the project of the Recovery Plan in Lugano. The principles on which recovery should be based were also approved, and Ukraine is already working on fulfilling its obligations.

The head of the government emphasized that Ukraine expects a clear definition of the resources that will help recovery from the conference in London in June of this year.