Media: Kyiv, Washington set to finalise $800 billion reconstruction deal in Davos

Ukraine and the United States are preparing to sign a “prosperity” agreement aimed at financing Ukraine’s reconstruction during a gathering of global leaders in Davos.

According to Western officials cited by British media, Volodymyr Zelenskyy and Donald Trump are expected to travel to the Swiss resort, where they plan to meet and finalise the deal.

Zelenskyy had initially intended to visit the White House next week to conclude both the economic prosperity agreement and a separate accord on post-war security guarantees. However, European members of the “coalition of the willing” advised him against making the trip, recommending instead that he use the World Economic Forum as a more suitable venue to meet the US president.

Officials said the goal is to use the Davos meeting to complete the economic agreement, which is a central component of the revised US-supported peace proposal designed to end the nearly four-year war with Russia.

European diplomats involved in the negotiations have encouraged Zelenskyy not to rush discussions with the US president, arguing that Trump is currently aligned with their effort to secure a settlement favourable to Kyiv.

Ukrainian officials say the prosperity plan is intended to generate roughly $800 billion (£600 billion) over the next decade to rebuild the country and revive its economy. Zelenskyy said late last year that the agreement would lay the groundwork “for economic recovery, restoring jobs and bringing life back to Ukraine.”

The deal is expected to open the way to a broad package of loans, grants, and investment commitments from private companies. Kyiv hopes that by offering the United States a significant role in post-war reconstruction—particularly through projects likely to appeal to Trump—the US president will be more inclined to provide strong security guarantees.

The agreement mirrors the minerals deal concluded last year, which granted US investors preferential access to future mining projects in Ukraine.

Steve Witkoff, Trump’s peace envoy, has described the prosperity agreement as a central element of the broader ceasefire package he has been negotiating in recent months. After the “coalition of the willing” meeting in Paris last week, the New York real-estate developer turned diplomat said that BlackRock, the world’s largest investment firm, would participate in the initiative.

Despite this, few details of the agreement are publicly known, and unlike the 20-point peace plan, it has not been released.

Zelenskyy is also seeking to finalise a bilateral US-Ukraine accord that would provide post-war security guarantees following any ceasefire. “The bilateral document on security guarantees for Ukraine is now essentially ready for finalisation at the highest level with the President of the United States,” he wrote on social media on Thursday, January 8.

It remains unclear whether the security agreement — designed to enable a “reassurance force” led by Britain and France — will be signed in Davos. Key obstacles in the wider peace negotiations remain unresolved, particularly disagreements over territorial concessions in eastern Donbas.

European sources say relations with the White House have improved markedly in recent weeks, with one senior official describing Witkoff as a “changed man,” a reference to earlier accusations that he was sympathetic to Russia.

Nevertheless, despite warmer ties among Washington, European capitals and Kyiv, insiders remain doubtful that Vladimir Putin is prepared to end the invasion.

Ukraine and its partners continue pressing ahead with the diplomatic process, in part to ensure that Trump ultimately attributes any collapse in negotiations to the Russian president. “We understand that the American side will engage with Russia, and we expect feedback on whether the aggressor is genuinely willing to end the war,” Zelenskyy said on Thursday.

On Friday, the Ukrainian leader hosted UK Defence Secretary John Healey in Kyiv for discussions on Britain’s proposal to deploy troops to Ukraine as part of a post-ceasefire arrangement.

Zelenskyy stated, “We also discussed how a British contingent could be deployed to operate alongside French forces if diplomacy works to end the war. It is crucial that the framework for ending the war includes a clear response from the allies should Russian aggression be repeated.”

By Tamilla Hasanova