Rebuilding Ukraine will cost $349 billion: report

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Washington (AFP) – Rebuilding Ukraine from the devastation caused by the Russian invasion will cost an estimated $349 billion, according to a report on Friday.

But this figure, which altogether represents 1.5 times the size of the Ukrainian economy, is considered a minimum and is expected to increase in the coming months as the war continues, according to the joint assessment of the Ukrainian government, of the European Commission and the World Bank.

The physical damage alone inflicted since the invasion in late February to June 1 has already totaled $97 billion, according to the report.

“The Russian invasion of Ukraine continues to take a heavy toll, from significant civilian casualties and the displacement of millions to the widespread destruction of homes, businesses, social institutions and economic activity,” he said. said Anna Bjerde, Regional Vice President of the World Bank. President for Europe and Central Asia.

Over the next 36 months, the report estimates that $105 billion will be needed to meet urgent needs such as restoring education and health systems and infrastructure, preparing for the coming winter through restoration heating and energy in homes, supporting agriculture and repairing vital infrastructure. transportation routes.

Ukrainian Prime Minister Denys Shmyhal said reconstruction is already underway in the deoccupied territories but will require help from international partners.

“Only for the first stage, the rapid recovery, 17 billion dollars are needed, of which Ukraine already needs 3.4 billion dollars this year,” he said in a statement.

Allies have rushed to provide aid in the war-torn country, with the G7 and the European Union contributing $39 billion.

European Commission President Ursula von der Leyen said the EU had mobilized €10 billion “in funding, humanitarian, emergency and military aid for Ukraine and another €5 billion financing are in preparation.