Analysis & Opinions - Atlantic Council

Ukraine urgently needs a multi-billion dollar international fund to survive

| Mar. 08, 2022

Less than two weeks into Putin’s Ukraine War, the conflict has already left much of the country in ruins. After encountering unexpectedly tough resistance from Ukrainian forces in the initial days of the invasion, the Russian military has since focused its efforts on the indiscriminate bombing of Ukrainian towns and cities. 

These terror tactics have resulted in countless atrocities and a rapidly rising civilian death toll. Russia’s attack has also destroyed Ukrainian infrastructure and decimated the country’s economy. In order to prevent a complete economic collapse, the international community must now urgently provide Ukraine with tens of billions of dollars in emergency funding. 

Even greater sums will be required for the rebuilding of Ukraine. Assuming the majority of today’s Ukraine emerges from the current conflict unoccupied, this reconstruction program promises to be the biggest undertaking in modern European history. Entire new cities will eventually rise from the rubble, transforming the country and helping to guarantee the European future Ukrainians are fighting for.   

How much will all this cost? Polish Prime Minister Mateusz Morawiecki recently stated that the European Union should establish a EUR 100 billion fund to rebuild Ukraine. This may be a conservative estimate. If Russia continues to bomb Ukraine at the current rate, we can expect the costs of the war to be much higher, perhaps even reaching over USD 1 trillion.

For more information on this publication: Belfer Communications Office
For Academic Citation: Timtchenko, Ilya.“Ukraine urgently needs a multi-billion dollar international fund to survive.” Atlantic Council, March 8, 2022.

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