Ukraine’s war momentum draws investors’ interest

By the Editorial Team · Tuesday, July 28, 2026

Ukraine's recent gains in the Donbas region and deployment of advanced drones have attracted significant investments from figures like Eric Schmidt and institutions such as the European Bank for Reconstruction and Development, which pledged over 500 million euros to support economic and energy infrastructure. These financial commitments indicate growing international confidence in Ukraine's resilience and potential for postwar recovery, despite ongoing conflict and cautious entry by new multinational corporations.

Ukraine’s recent military advances in the eastern Donbas region have drawn growing interest from international investors, reflecting a shift in perceptions about the conflict’s trajectory. Despite ongoing fighting and no clear indication that Russian President Vladimir V. Putin intends to halt operations, analysts note that the momentum appears to be favoring Kyiv more than at any point since the war’s early months.

Ukraine has deployed a new generation of video-guided midrange drones capable of striking across the Russian-controlled land corridor connecting occupied Crimea to mainland Russia. These unmanned aerial vehicles have been used to target supply routes to Crimea as well as oil refineries deep inside Russian territory, aiming to increase pressure on Moscow and potentially influence future negotiations.

Former U.S. President Donald Trump, who has previously expressed skepticism about Ukraine’s prospects, acknowledged President Volodymyr Zelenskyy’s performance last month, stating, "He’s doing pretty well." This changing view is also reflected in increased financial commitments to Ukraine.

Among the notable investors are Eric Schmidt, the former CEO of Google, and his wife, Wendy Schmidt. The couple has acquired shares in commercial real estate funds managed by a Ukrainian investment firm, holding properties such as shopping malls in Kyiv. Estimates value their investment at between $55 million and $70 million. Eric Schmidt has additionally invested in Ukrainian drone companies contributing to the war effort.

At a June meeting in Gdansk, the European Bank for Reconstruction and Development (EBRD), which has been a major source of institutional investment in Ukraine, committed more than 500 million euros ($570 million) in new funding. Since Russia’s full-scale invasion in 2022, the bank has invested approximately 10 billion euros in Ukraine. Part of this investment strategy addresses the damage inflicted by Russian attacks on Ukraine’s coal-fired power plants. The EBRD’s focus on supporting carbon-free energy aligns with Ukraine’s efforts to expand solar and wind energy infrastructure, which are less vulnerable to missile strikes. Matteo Patrone, vice president for banking at the EBRD, described this rapid shift as “a forced decarbonization in Ukraine.”

Despite these developments, new direct foreign investment remains limited. Multinational corporations already operating in Ukraine before the war, including McDonald’s and Nestlé, have increased their presence as the likelihood of a Russian takeover diminished. However, companies without prior Ukrainian operations have generally been hesitant to enter the market, according to Andy Hunder, head of the American Chamber of Commerce in Ukraine.

The Gdansk event where these commitments were announced took place at the site symbolic of Central and Eastern Europe’s post-Soviet transformation. The former Lenin Shipyard, once the cradle of the Solidarity labor movement led by Lech Walesa in the 1980s, has since undergone significant redevelopment, evolving into a hub of condominiums, galleries, and cafes. The transformation serves as an aspirational model for Ukraine’s postwar economic recovery and future growth.

This article was reported by synthesizing coverage from multiple independent news outlets to present a balanced, unbiased account. Read about our editorial standards. Spotted an error? Let us know.