The costs of the reconstruction of Ukraine already amount to almost 450 billion euros

Ukraine has been at war for almost two years.

And although the highest priority is peace, international institutions also think about the day after.

Reconstruction of the country is more expensive with each passing day.

The World Bank estimates that kyiv will need 486 billion dollars (about 447 billion euros) in the next decade to rebuild infrastructure, public services or housing.

According to a report from the organization released this Thursday, that amount is 75 billion dollars higher than what was estimated just a year ago.

That is, the war is costing more than 200 million a day.

The document, also prepared by the Government of Ukraine and the European Commission, indicates that the country will need 15 billion euros in 2024 alone, of which it only has 5,500 guaranteed by its international partners.

Russia's attacks in Ukraine have caused thousands of military and civilian casualties, almost six million displaced people in Europe and have led to an increase in unemployment and poverty in the country.

Daily economic activity has been severely disrupted after Russian attacks have destroyed infrastructure, key public services and around 10% of the housing stock, according to estimates by the three agencies.

Hence, the EU's financial lifeline of 50 billion euros, which was endangered by the opposition of Hungarian Viktor Orbán, was key for Volodímir Zelensky's government, which also needs to find more than 37 billion in external financing to execute its budgets. of 2024.

International institutions, such as the IMF and the World Bank, have been insisting that the reconstruction of Urania is only possible with the help of the international community.

Especially when the bill only keeps going up.

So far, the direct damages caused by the two years of Russian attacks amount to 152 billion euros.

Of these, 97 billion were generated during the first three months of attacks, indicating the massive devastation that led to the start of the Russian attacks.

This total calculation mainly includes damage to housing, transportation, commerce, industry, energy, and agriculture, which the report indicates as the most affected sectors.

And especially in the regions of Donetska, Kharkivska, Lujanska, Zaporizhia, Khersonska and Kyivska.

The gap between the bill for destroyed infrastructure and the price of reconstruction is also due to the degradation that the war is causing for some facilities.

Furthermore, the cost extends beyond the services that have been damaged.

The report gives the example of the destruction of the Kakhovka dam and hydroelectric plant, whose damage caused an “incalculable impact” on the environment and “amplified the challenges of” access to housing, water, food and services. “public” for the population, among others.

But there are also serious blows to strategic ports and cyber and drone attacks on critical infrastructure.

Even so, the report has tried to exclude from the final amount all those items that are already covered by national budgets or by aid that could have been tied with international allies.

The 486 billion dollars that are estimated to be needed in ten years, according to the World Bank, include measures so that the new equipment is already adapted to climate objectives.

The largest allocation (17% of the total) should be allocated to housing, followed by transportation (15%), commerce and industry (14%), agriculture (12%), energy (10%), social protection (9%). and the management of hazards associated with explosives (7%).

Added to all this is an expenditure of 11 billion to manage and remove the debris caused by the Russian attacks.

Antonella Bassani, vice president of the World Bank for Europe and Central Asia, said in a statement that the institution is “deeply committed to working with them [the Ukrainian government] to ensure a better future.”

In fact, large multilateral banks are called upon to play a leading role in Ukraine.

Not only in reconstruction.

Brussels recently asked the European Investment Bank (EIB), chaired by Nadia Calviño, for a greater effort in its defense loans, with an eye on the EU's military support for Ukraine, which is lagging behind its promises to send weapons and ammunition.

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