Ukraine's economic recovery to cost USD 411 billion – World Bank

The World Bank noted this in its study, Reuters reports.

In September last year, experts estimated the needs at USD 349 billion, but the amount has increased since then. World Bank Vice President for Europe and Central Asia Anna Bjerde praised Ukraine's resilience and determination in recovery and reconstruction.

“Continued support for Ukraine is an investment in both the country and the global economy. Development partner support for public investment needs to be complemented by significant private investment to increase the available financing for reconstruction,” she said.

Ukraine will need USD 14 billion for critical and priority investments in reconstruction and recovery in 2023, meaning that the Ukrainian economy will need additional funding of USD 11 billion over and above what is provided for in the budget.

According to World Bank estimates, 22% of the needs are for transportation, 17% for housing, 11% for energy, and 7% for agriculture. The largest increase in needs was noted in the energy sector, which suffered from Russian attacks – losses were more than five times higher than in June 2022. At the same time, the needs of frontline cities such as Donetsk, Kharkiv, Luhansk, and Kherson have increased the most.

• Earlier, Vice President of the European Commission Valdis Dombrovskis said that Russia, as the aggressor, is obliged to pay reparations to Ukraine.