Ukraine and the United States are set to sign an economic "prosperity" agreement at the World Economic Forum in Davos, The Telegraph reports. The deal aims to bring in around $800bn over a decade to rebuild Ukraine and revitalize its economy, according to Ukrainian officials.
President Volodymyr Zelenskyy and Donald Trump are both heading to the Swiss mountain resort, where Western officials say they expect the two leaders to meet and finalize the agreement. The plan involves a series of loans, grants and investment opportunities from private companies.
Zelenskyy had initially planned to travel to the White House next week to conclude both the economic prosperity plan and a separate deal on post-war security guarantees. However, his European backers in the "coalition of the willing" advised against the trip, suggesting Davos as a more suitable alternative.
"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," Zelenskyy wrote on social media on Thursday. It remains unclear whether this security agreement will also be signed in Davos.
European officials involved in the peace talks have urged Zelenskyy not to rush negotiations with Trump, believing the US president is currently aligned with their goal of ending the war on favorable terms for Kyiv.
The prosperity plan is designed to provide "for economic recovery, restoring jobs and bringing life back to Ukraine," Zelenskyy said in a briefing with reporters late last year. The deal builds on a minerals agreement signed last year that gave US investors preferential access to future mining projects in Ukraine.
Kyiv hopes that by offering Washington a stake in post-war reconstruction—particularly in projects Trump might favor—the US president will be more inclined to provide robust security guarantees.
Steve Witkoff, Trump's peace envoy, has called the agreement a crucial part of the overall ceasefire package he has been negotiating. After a "coalition of the willing" meeting in Paris last week, the New York businessman-turned-diplomat said BlackRock, the world's largest investment group, would participate in the programme.
Unlike the 20-point peace plan, details of the prosperity agreement have not been publicly disclosed.
The remaining sticking points on the wider peace accord concern differences over territorial concessions in Ukraine's eastern Donbas Oblast. European sources have noted what one senior official described as a "changed man" in referring to Witkoff, following earlier accusations that he was pro-Russian.
Despite improved relationships between Washington, European capitals and Kyiv, insiders remain unconvinced that Vladimir Putin is ready to halt his invasion. Ukraine and its allies continue working to ensure Trump blames the Russian president if peace efforts fail.
"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 8 January.
On 9 January, Zelenskyy met with British Defence Secretary John Healey in Kyiv to discuss Britain's proposal to deploy troops in Ukraine as part of a ceasefire agreement. "We also discussed how a British contingent could be deployed to operate alongside French forces if diplomacy works to end the war," Zelenskyy said. "It is crucial that the framework for ending the war includes a clear response from the allies should Russian aggression be repeated."
