Ukraine needs $349bn to reconstruct, recover from war – World Bank
Ukraine is estimated to need some $349bn financing support to be able to fully recover from the impacts of the ongoing war between it and Russia.
The estimated financing support as noted by the Bank’s Rapid Damage and Needs Assessment report, is one-and-a-half times Ukraine’s pre-invasion GDP.
Making the disclosure at the 2nd Ministerial Roundtable for Support to Ukraine at the ongoing IMF/World Bank 2022 Annual Meetings, World Bank President, David Malpass, stated that financing support provided to Ukraine since the beginning of the war has been $11bn.
“Since the war began, the World Bank Group has mobilized $13 billion in emergency financing, including grants, guarantees, and linked parallel financing from the U.S., the UK, European countries, and Japan. Around $11 billion has already been disbursed,” he said.
According to him, Ukraine’s basic non-military budget financing needs—dominated by essential social services—are substantial and need continued external financing support.
“Even more is needed to repair roads, bridges, homes, schools, energy infrastructure, and clinics. And, in particular, as winter sets in, urgent support is needed for energy supplies and preparations for homes,” he added.
To mobilize additional support, the World Bank has established a multi-donor fund to help the government sustain its capacity to deliver services, conduct relief efforts, and plan and implement the country’s recovery and reconstruction.
