AsiaOne on Nostr: Ukraine needs $654b to recover, rebuild after nearly 2 years of war: World Bank ...
Ukraine needs $654b to recover, rebuild after nearly 2 years of war: World Bank
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Ukraine needs $654 billion to recover and rebuild its economy after nearly two years of war with Russia, according to a study by the World Bank, United Nations, European Commission, and the Ukrainian government. The estimate covers the period from Russia's invasion on February 24, 2022, through December 31, 2023, and includes the direct physical damage to buildings and infrastructure, the impact on people's lives and livelihoods, and the cost to "build back better." The report states that direct damages from the war have reached almost $152 billion, with additional costs related to economic output, trade disruptions, and debris removal totaling around $499 billion. The estimate excludes reconstruction needs already met through the Ukrainian state budget or international support. The report highlights that about 10% of Ukraine's total housing stock, or approximately two million housing units, have been damaged or destroyed, along with 8,400 km of motorways, highways, and national roads, and nearly 300 bridges. Ukraine needs $15 billion to cover urgent repair, recovery, and reconstruction priorities in 2024, of which $5.5 billion has already been met through the state budget and donor support. The Ukrainian government plans to undertake 200 separate reforms to governance, energy, and other areas to attract private sector investment and increase tax revenues. Despite the war, foreign direct investment of over $4 billion has flowed into Ukraine in the first three quarters of 2023, indicating foreign investors see opportunities in the country. As of December, about 5.9 million Ukrainians remain displaced outside of the country, and around 3.7 million are internally displaced.
#Ukraine #WorldBank #War #Recovery #Rebuilding
https://www.asiaone.com/world/ukraine-needs-654b-recover-rebuild-after-nearly-2-years-war-world-bank
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Ukraine needs $654 billion to recover and rebuild its economy after nearly two years of war with Russia, according to a study by the World Bank, United Nations, European Commission, and the Ukrainian government. The estimate covers the period from Russia's invasion on February 24, 2022, through December 31, 2023, and includes the direct physical damage to buildings and infrastructure, the impact on people's lives and livelihoods, and the cost to "build back better." The report states that direct damages from the war have reached almost $152 billion, with additional costs related to economic output, trade disruptions, and debris removal totaling around $499 billion. The estimate excludes reconstruction needs already met through the Ukrainian state budget or international support. The report highlights that about 10% of Ukraine's total housing stock, or approximately two million housing units, have been damaged or destroyed, along with 8,400 km of motorways, highways, and national roads, and nearly 300 bridges. Ukraine needs $15 billion to cover urgent repair, recovery, and reconstruction priorities in 2024, of which $5.5 billion has already been met through the state budget and donor support. The Ukrainian government plans to undertake 200 separate reforms to governance, energy, and other areas to attract private sector investment and increase tax revenues. Despite the war, foreign direct investment of over $4 billion has flowed into Ukraine in the first three quarters of 2023, indicating foreign investors see opportunities in the country. As of December, about 5.9 million Ukrainians remain displaced outside of the country, and around 3.7 million are internally displaced.
#Ukraine #WorldBank #War #Recovery #Rebuilding
https://www.asiaone.com/world/ukraine-needs-654b-recover-rebuild-after-nearly-2-years-war-world-bank