According to a new study by the World Bank, the UN, the European Commission, and Ukraine, $411 billion is needed for the recovery and reconstruction of Ukraine after a year of full-scale war, which is 2.6 times greater than Ukraine’s expected gross domestic product in 2022.
“Energy infrastructure, housing, critical infrastructure, the economy, and humanitarian demining – these are our five priorities for this year,” said Prime Minister Denys Shmyhal in a statement regarding the assessment.
The World Bank noted that the energy sector will require the most spending, where losses were more than five times higher than the level in June 2022. More than a 45 million dollars is needed to restore this sector.
Nearly 22% of the needs are in the transport sector, 17% in the housing and communal sector, 11% in energy, and 7% in agriculture.
Rebuilding Ukraine will “take several years,” said Anna Bjerde, Vice President of the World Bank for Europe and Central Asia. She added that support for state investments must also be “complemented by significant private investments to increase available financing for reconstruction.”
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