Ukraine needs US$411 billion for reconstruction, recovery, World Bank estimates
- The assessment, made jointly by Ukraine, the World Bank, European Commission and the UN, is an increase from the US$349 billion estimated in September
- Russia’s invasion of Ukraine in February 2022 has displaced millions of people, and global food and energy prices have surged on the fallout from the war
Ukraine’s reconstruction and recovery needs have grown to US$411 billion in just over a year since Russia’s invasion, the World Bank said on Wednesday.
The assessment, made jointly by Ukraine’s government, the World Bank, the European Commission and the United Nations, is an increase from the US$349 billion estimated in a report released last September.
The latest evaluation expects Kyiv to require US$14 billion for critical and priority reconstruction and recovery investments in 2023.
Meeting these needs will call for U$11 billion in financing beyond what Ukraine’s government has already addressed in its 2023 budget, according to the assessment.
Russia’s invasion of Ukraine in February 2022 has displaced millions of people, and global food and energy prices surged on the fallout from the war.
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“Energy infrastructure, housing, critical infrastructure, economy and humanitarian demining are our five priorities for this year,” Ukraine’s Prime Minister Denys Shmygal said in a statement.