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Amid the massive human and economic toll of Russia’s ongoing invasion, Ukraine’s plan to raise additional funds for its war effort and reconstruction by offering bonds to retail investors abroad could see “big interest” if it comes to fruition, according to one analyst reached by forbes


Ukraine is seeking to offer “peace bonds” to retail investors across the United States and Europe as the country explores new avenues of funding for its war effort and reconstruction, Bloomberg first reported.

EU and Ukrainian officials have already held talks about how to implement a sale of the new bonds in different member countries and Kyiv has also spoken with the US Securities and Exchange Commission, sources told the publication.

Getting approval for bond sales to retail investors abroad can typically be a lengthy process and Ukraine has not yet released full details about its proposed offerings.

Ukraine’s financial ministers have struggled so far to reach a wider pool of retail investors abroad: although the country has been selling bonds since shortly after Russia’s invasion began, only institutional investors and pension funds have been able to buy them.

Despite only top-tier investors being able to buy Ukraine’s debt so far, there is significant interest from abroad—as investors from around the world have been asking the country’s finance ministry since last month how they can get those bonds as well.

If the proposed bond offerings do come to fruition, people are “very receptive” to helping Ukraine and that would likely draw “big investor interest,” says Sam Stovall, chief investment strategist at CFRA.