News
19.01.2026
The Victor Pinchuk Foundation holds panel discussion on Ukraine’s Economy of the Future in Davos on occasion of WEF 2026
On the occasion of the World Economic Forum Annual Meeting 2026 in Davos, the Victor Pinchuk Foundation hosted a high-level panel discussion titled “Economy of the Future: Building a New European Tiger” as part of ‘Ukraine: Future’s Frontline’ project.
The event brought together leading global and Ukrainian figures to discuss Ukraine’s post-war economic transformation and its role in shaping the future of the European economy.
During the discussion, speakers addressed the key challenges and opportunities of Ukraine’s economic recovery, investment prospects, structural reforms, and the country’s potential to become a new European engine of growth. Particular attention was given to the importance of Ukraine’s economic transformation for the stability and competitiveness of Europe as a whole.
“Some say that reconstruction is a topic for after the war. Before we talk about rebuilding Ukraine, we must end the war — and I agree,” said Victor Pinchuk, Ukrainian businessman and philanthropist. “But reconstruction and a prosperity plan are not something to be postponed. They are among the fundamental pillars of a credible Ukrainian peace plan. That is why this conversation matters today.”
The discussion was moderated by Chrystia Freeland, Adviser to the President of Ukraine on economic development, who underlined the importance of victory on the economic battlefield, not just the military one.
“At the beginning of the war, with this cruel, illegal, evil, full-scale invasion of Ukraine, we were thinking of Ukraine as a victim and the horrible damage being done to Ukraine. And that was entirely appropriate,” said Chrystia Freeland. “But today is a day I want us to start thinking about Ukraine as an opportunity. Ukraine as a European tiger, as an engine of growth for Ukraine, for all of Europe and for the world.”
“Ukrainian people are fighting for their sovereignty and their identity, but also for European prosperity. It is not just about what Europe can do for Ukraine, it is what Ukraine can do for Europe,” added Chrystia Freeland.
Ajay Banga, President of the World Bank Group, stressed the importance of market reforms in the country as a prerequisite for prosperity – and the necessity for popular support for this change.
“The Ukrainian people need to want what is going to happen in terms of economic change. The willingness to conduct all that is required to become part of the EU is going to be very important,” said Ajay Banga.
Kristalina Georgieva, Managing Director of the International Monetary Fund, agreed with the need for reform, but underlined the progress that has already been made:
“Part of what needs to be done is just to finish what was started. Ukraine has stepped on the road to a market economy but hasn’t quite completed its journey yet.”
On the question of reforms, she commented, “Throughout the first programme of the IMF, I always said that Ukraine has earned every penny of support it gets, because it pushes on the anti-corruption front, it pushes on reforms.”
Kristalina Giorgieva added: “Yes, Ukraine needs guns and all the rest, but it also needs an economy that is vibrant.”
Odile Renaud-Basso, President of the European Bank for Reconstruction and Development, praised the “amazing resilience of the Ukrainian economy”.
She highlighted that “guarantee of security is a key component for economic strength”, and that looking ahead, “stable macroeconomic environment, rule of law, fight against corruption will all be key” to Ukraine’s prosperity.
“Enabling the private sector to develop will require deep market reform. People who have been fighting for years in very difficult conditions need to find ways to reintegrate into society and find work.”
Taras Kachka, Deputy Prime Minister of Ukraine for European and Euro-Atlantic Integration, underlined the fact that “prosperity depends on security.”
It also depends on reforms, on which he commented “in reality, we are already at the end of a whole generation of reforms on the rule of law, which started in 2016.”
He touched upon the evolving nature of international support for Ukraine. “There is a very profound change in change in our cooperation with our partners. In the first months of the war, all support was urgent. After four years of war, we now think about strategic change in the long term.”
Oleksii Sobolev, Ukraine’s Minister of Economy, Environment and Agriculture, commented on the virtuous cycle that connects economic prosperity and security: “We need to be able to grow our economy to sustain security, that will in turn help to grow the economy.”
“It is possible to create a new European powerhouse through Ukraine,” he added. “The capacity for projects will grow. But it is on Ukraine, and Ukrainian businesses, to create projects capable of attracting international funding.”
The project ‘Ukraine: Futures’ Frontline’ takes place on 19-22 January, 2026, in Davos on the occasion of #WEF2026, as part of a broader series of Ukrainian events designed to amplify Ukraine’s voice, highlight its resilience, and foster a dialogue on the future of the country and global security.
‘Ukraine: Future’s Frontline’ is a platform exploring our future security, prosperity and global position. Our future is shaped in Ukraine: Ukrainians defend their sovereignty and Europe’s security. And in this fight, Ukraine must be at the cutting edge of innovation. Of the competition that will determine tomorrow’s world. Ukrainians develop cutting edge drone technology, AI, and redefine standards for military and civilian technologies.
The project “Ukraine: Future’s Frontline”, organized by the Victor Pinchuk Foundation in partnership with PinchukArtCentre and the Office of the President of Ukraine.
More information about the project “Ukraine: Future’s Frontline” is available at www.ukraineindavos.org
Photos are available here
Video will be available here www.youtube.com/user/PinchukFoundation/
The Project will run at Promenade 59, space shared with Ukraine House Davos.
Ukraine House Davos is organized by Victor Pinchuk Foundation, Ukraine-Moldova American Enterprise Fund and Horizon Capital.
In 2024, Ukraine House Davos, featuring the Deciding Your Tomorrow exhibition organized by the Victor Pinchuk Foundation, was named ‘Best Pavilion’ by POLITICO. The exhibition in Davos 2024 featured a stunning map of Russian war crimes, as well as the screens showing TikTok videos by Ukrainian bloggers about people living their lives, finding joy, love and moments of happiness despite constant threat.
