Reconstruction and recovery Ukraine will cost at least $349 billion | Abroad

An assessment has been made not only of the damage and losses, but also of Ukraine’s economic and social needs during and after the war. It is the first comprehensive assessment of the consequences of the war in twenty different sectors. It also describes the financing needs for a “resilient, inclusive and sustainable” recovery and reconstruction.

The assessment looked at the period of 24 February and 1 June. “In a first phase, about 17 billion euros is needed, of which about 3.4 billion already this year,” said Ukrainian Prime Minister Denys Shmyhal. The Ukrainian government must spread the recovery expenditure and prioritize the most urgent matters. The World Bank will help the country set priorities.

Over the next three years, the country will need about 105 billion euros to get education and health care systems back in order. The heating systems also need to be rebuilt quickly now that winter is approaching. In addition, work must be done on clearing debris and tracing and disabling explosives that have been left behind.

The war started on February 24 when Russian troops invaded neighboring Ukraine. The battle has been raging for months, particularly in eastern and southern Ukraine. An end to the war is not yet in sight due to the lack of peace talks. Since the Russian invasion, countries have pledged billions in aid to Ukraine. Reconstruction is already underway in areas recaptured by the Ukrainian army.

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