Capable of mobilizing up to 7 billion euros: The European Flagship Fund for Ukraine’s Reconstruction was officially launched in Gdańsk
26 June 15:50
During the Ukraine Recovery Conference 2026, the European Flagship Fund for Ukraine’s Reconstruction was officially launched; it is capable of mobilizing up to 7 billion euros in investments in the Ukrainian economy.
This was reported by the Ministry of Economy, Environment, and Agriculture, according to "Komersant Ukrainian".
The ministry’s head, Oleksiy Sobolev, emphasized that the launch of the fund demonstrates that Ukraine is already attracting investments for reconstruction without waiting for the war to end.
“The launch of the European Flagship Fund demonstrates something extremely important: Ukraine is not waiting for the war to end to attract investment. Reconstruction is already underway, businesses are already investing, and international partners are helping to build the financial architecture needed to scale up private capital. I would like to thank the European Commission, the governments of Germany, France, Italy, and Poland, our development finance partners, and the Amber–Dragon consortium for their leadership and dedication, which made this initiative possible,” said Oleksiy Sobolev, Minister of Economy, Environment, and Agriculture of Ukraine.
The European Commission has already signed contribution agreements with three partners to disburse €160 million in EU funding under the Investment Framework, part of the Ukraine Facility—the Ukraine Investment Framework.
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The Ministry of Economy noted that each anchor government is to contribute 15 million euros. This marks the official launch of the fund with 220 million euros in first-loss capital, available to catalyze a significant volume of private investment in capital-intensive reconstruction projects.
“In addition, the fund’s manager—a consortium of Amber Infrastructure Group and Dragon Capital—will invest 45 million euros. Thus, at the launch stage, the Flagship Fund will have 265 million euros ready for investment,” the statement said.
The fund will raise private capital with the goal of reaching a first closing of 500 million euros in the coming months, and subsequently 1 billion euros. It is designed as an investment platform capable of mobilizing up to 7 billion euros in investments in the Ukrainian economy.
The concept of the Flagship Fund was presented at the Ukraine Recovery Conference (URC 2025) in Rome. The creation of the European Flagship Fund for the Reconstruction of Ukraine is a joint initiative of the European Commission, France, Germany, Italy, and Poland.
The Ukraine Investment Framework (UIF) is the investment component of the Ukraine Facility—an instrument with a total volume of 50 billion euros, of which 9.5 billion euros are earmarked specifically for the UIF in the form of guarantees (7.8 billion euros) and blended finance (1.7 billion euros). The platform’s goal is to mobilize investments for the modernization of Ukraine’s economy, reconstruction, and sustainable development in line with the Ukraine Plan and EU policies.
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