Ukraine attracts 200 million euros for its recovery via infrastructure investment fund
Ukraine has attracted a further 200 million euros ($235 million) for its recovery via a new fund established by Kyiv-based investment firm Dragon Capital and U.S.-based Amber Infrastructure, with a signing ceremony at Ukraine House Davos on Jan. 21.
The Amber Dragon Ukraine Infrastructure Fund is the first dedicated to modernizing and rebuilding Ukraine’s infrastructure. Launched last summer, it aims to attract 350 million euros ($410 million) for Ukraine’s renewable energy, transport, and digital infrastructure sectors — areas lacking investment during Russia’s full-scale invasion.
Ukraine faces huge rebuilding costs, with Russian attacks having caused at least $170 billion in direct damage to Ukraine’s infrastructure, according to a report from the Kyiv School of Economics (KSE) in February 2025. For the country’s recovery, Kyiv says it needs $800 billion over 10 years to kickstart and modernize the economy.
"Infrastructure, transport system, logistics, and transport hubs are suffering enormously during the war," said Alona Shkrum, first deputy minister for Development of Communities and Territories of Ukraine at the signing ceremony.
"The ports, the railway stations, the roads, Russia continues to destroy and damage. But nevertheless, we restore, we reconstruct, even during the war. And I think that this fund actually answers all of the questions, whether it is at all possible to reconstruct infrastructure, to reconstruct transport system and invest in those areas in terms of war."
So far, the European Bank for Reconstruction and Development (EBRD) has committed 60 million euros ($70.4 million), the European Investment Bank (EIB) committed 50 million euros ($58.6 million), and the International Finance Corporation (IFC) committed 40 million euros ($47 million). Both the Swedish and Danish government development funds are also supporting the fund.
As business heads and world leaders, including U.S. President Donald Trump, gather in the Swiss mountain ski resort, Ukraine signals that now is the time to invest in Ukraine’s recovery.
In its eighth year, this is the second recovery deal at Ukraine House Davos during the World Economic Forum this year.
The day before, another investment firm, Horizon Capital, announced it had secured 150 million euros for its first equity Catalyst Fund for sectors focused on reconstruction. The fund targets capital-heavy mid-sized Ukrainian companies and projects geared towards the domestic market, including energy, digital infrastructure, and construction.
