ΠΑΓΚΟΣΜΙΑ ΤΡΑΠΕΖΑ
- 30 Apr 2023
- economy
Rebuilding Ukraine's economy after the Russian invasion a year ago is now expected to cost $411 billion, 2.6 times Ukraine's estimated 2022 gross domestic product, according to a new study by the World Bank, the United Nations , the European Commission and Ukraine.
The assessment released today covers a one-year period from the Russian invasion on February 24, 2022, and quantifies the natural damage to infrastructure and buildings, the impact on people's lives and livelihoods, and the cost of 'building back better', according to the World Bank.
The amount is up significantly from the $349 billion estimate released last September.
The new forecast comes a day after the International Monetary Fund said its officials had reached an agreement with Ukrainian authorities on a four-year, $15.6 billion loan package that could mobilize billions more in aid from other agencies once approved by the executive board. of the IMF in the coming weeks.
"Energy infrastructure, housing, critical infrastructure, economy and humanitarian demining are our five priorities for this year," Ukrainian Prime Minister Denis Smikhal said in a statement.
He said the estimated damage and recovery needs do not include data on the loss of infrastructure, homes and businesses in territory occupied by Russian forces.
According to the rapid needs assessment, Ukraine will need $14 billion in critical and top-priority reconstruction and recovery investments in 2023.
About 22% of needs are found in transport, while housing corresponds to 17%, energy to 11% and agriculture to 7%.
The biggest proportional increase is in energy, where losses were more than five times the level recorded in June 2022, according to the World Bank. The biggest increase was recorded in frontline areas such as Donetsk, Kharkiv, Luhansk and Kherson, which have been particularly targeted by Russian missile attacks since October.
World Bank Vice President for Europe and Central Asia, Anna Bjerde, hailed Ukraine's resilience and determination to address its urgent needs for recovery and reconstruction.
“Continued support for Ukraine is an investment for both the country and the global economy. Development partners' support for public investment must be complemented by significant private investment to increase available financing for reconstruction," he said.
