Ukraine facing $10 billion deficit for reconstruction in 2025
Ukraine is facing a $10 billion "funding gap" for reconstruction projects in 2025, Prime Minister Denys Shmyhal said on April 2.
Shmyhal's made the comments on after a meeting of the Steering Committee of the Ukraine Donor Platform.
According to Shmyhal, international donors have allocated nearly $7.4 billion for "priority recovery projects" in 2025, leaving a nearly $10 billion deficit to finance reconstruction projects in 2025.
"According to the updated RDNA4 (Rapid Damage and Needs Assessment) assessment, Ukraine's total reconstruction cost is estimated at $524 billion over the next decade," Shmyhal said on Telegram. "With the support of our partners, we continue Ukraine's rapid recovery program, focusing on five key priorities: energy, housing, critical and social infrastructure, humanitarian demining, and private sector support."
Russia's full-scale war, which recently entered its fourth year, has sparked a deep humanitarian crisis in the country, leaving millions displaced and housing and infrastructure devastated in front-line regions.
Western allies and institutions have continue to support Ukraine with international aid since the start of Russia's invasion. Despite this, Ukraine's direct losses continue to increase, reaching $176 billion at the end of December 2024 compared to $152 billion in February last year.
Although gaps in funding persist, Shmyhal said that Kyiv's budgetary needs are being met through support of international donors, having given or pledged $39.3 billion to support Ukraine, according to a RDNA4 assessment by the World Bank.
"We are already working on securing support for 2026. We are grateful to the G7 countries and the European Commission for supporting the ERA initiative and directing funds to Ukraine from the profits of immobilized Russian assets," Shmyhal concluded.
Earlier on April 2, the World Bank announced that it would provide $432 million to Ukraine in funding to assist with the restoration of transport infrastructure damaged during the war.
Read also: Ukraine needs $524 billion for recovery, reconstruction after 3 years of Russia's full-scale war
We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
As Russia inches closer to Dnipropetrovsk Oblast, new Ukrainian region might soon be at war
Moscow said its troops had crossed into Dnipropetrovsk Oblast and were conducting offensive operations in the region, a claim Kyiv quickly denied as 'Russian disinformation.' Russian troops have been pushing toward Dnipropetrovsk Oblast for months, trying to solidify the southern flank to capture Pokrovsk and the remaining parts of the adjacent Donetsk Oblast. Western military experts who spoke to the Kyiv Independent said it was clear that Russian troops would eventually penetrate the southeastern region. But they didn't expect either side to throw 'a significant amount of forces' in this sector, as the capture of Donetsk Oblast remains Moscow's main objective. Emil Kastehelmi, an analyst at the Finland-based Black Bird Group, confirmed that geolocation shows Russian troops entered Dnipropetrovsk Oblast in recent days. Russian troops will likely advance 'at least somewhat' deeper in the coming months, though it won't change the overall dynamic of the front line, he added. Kastehelmi believes that Russian troops could try advancing northwest from the southern flank of Pokrovsk to encircle the city that is already penetrated from the southern and eastern sides. 'The Russians probably have understood that if they want to make a proper encirclement threat, they need to widen the flanks and then continue operations near Pokrovsk,' Kastehelmi told the Kyiv Independent. The Russian Defense Ministry said on June 8 that its troops were pushing forward in Dnipropetrovsk Oblast — a region adjacent to Donetsk and Zaporizhzhia oblasts but have thus not seen combat actions. It added that the Russian military's 90th Guards Tank Division units had reached the western border of Donetsk Oblast and were thrusting forward into the industrial Dnipropetrovsk Oblast. The Ukrainian military immediately denied the claim, saying that the fighting continued inside Donetsk Oblast, calling Russia's claims 'disinformation.' The Ukrainian monitoring project DeepState has put the proximity of Russian troops to the Dnipropetrovsk Oblast border at about two kilometers, yet painting that distance between the regional border and the alleged position of Russian troops as no man's land. The Kyiv Independent requested a comment to the General Staff of Ukraine's Armed Forces but has not heard back in time of publication. Even if militarily not as significant, the Russian penetration into Dnipropetrovsk Oblast would mean yet another Ukrainian region would be now a warzone. It could also help strengthen the Russian negotiation position as the U.S. continues to push both sides to hold peace talks to end the war at all costs. "If they [russians] find a weak spot, they will try to exploit it.' Russia had begun its long-expected offensive in April but has only made limited gains since then, besides opening a new front in the northeastern Sumy Oblast by occupying a number of border villages there. Kastehelmi from the Black Bird Group said that the Ukrainian defense of Pokrovsk would be compromised if Russian troops are able to widen their flanks, which would enable them to bring their support elements forward. 'It can mean that they may be able in the summer to threaten the remaining supply routes to the city in a way which makes it even more dangerous for Ukrainian units,' Kastehelmi said. Kastehelmi added that it would be 'an operational success' for Moscow if it is able to first expand its flank westward toward Dnipropetrovsk Oblast and then begin attacking northward, while also building on the eastern flank. But he stressed that Russian troops have not been the best at coordinating attacks, even if it looks 'doable' on paper. Jakub Janovsky, a Prague-based military analyst at the Oryx open-source project tracking Ukrainian and Russian equipment losses, said that it likely won't make 'any difference' if Russian troops advanced a kilometer or two into Dnipropetrovsk Oblast. He added that Russia appears to be continuing to rely heavily on small infantry group assaults, either on foot or motorcycles, thus decreasing the use of Soviet-era BMP fighting vehicles or tanks. 'It seems more likely that Russia will focus on Donetsk Oblast,' Janovsky told the Kyiv Independent. 'But it's entirely possible that if they find a weak spot, they will try to exploit it.' Read also: Inside Russia, calls for peace come with conditions — and Kremlin talking points We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
Yahoo
an hour ago
- Yahoo
Britain should stay close to US to ward off Russian threat, says defence chief
Britain should stay close to the US to stand up to the threat from Russia, the Chief of the Defence Staff has said. Admiral Sir Tony Radakin's comments came after Mark Rutte, the Nato secretary general, told The Telegraph that people in Britain had 'better learn to speak Russian' if the Government did not drastically increase defence spending to 5 per cent of GDP. Sir Tony, the head of the British military, appeared before the Commons defence select committee on Tuesday, where he was asked if he agreed with Mr Rutte's comments. He said such a scenario could be avoided by sticking close to America and strengthening Nato, telling MPs: 'We all accept that we are in this era of change. 'The piece that I think is so true and consistent for the UK is this security construct which is extraordinary and we should celebrate. 'We are a nuclear power. We are the world's largest and most powerful military alliance and we have as our principal ally the world's most powerful country on the planet. That's what keeps us safe. 'That's what we need to bind to, that's what we are doing, and that's what we need to strengthen so that we don't have the concerns that we are all going to be speaking Russian.' Sir Tony's remarks came as Rachel Reeves prepared to deliver her spending review, in which the Chancellor will set out the details of departmental spending, on Wednesday. However, Sir Tony, who steps down as CDS this autumn and will be replaced by Air Chief Marshal Sir Richard Knighton, refused to say whether he supported an uplift in defence spending to 3 per cent and beyond. Sir Tony also acknowledged the changing relationship between America and the UK, now that Donald Trump has asked the UK to shoulder more of the burden in Europe. Asked if the US withdrew, either entirely or partly, its contribution to Nato, would Europe be strong enough to 'match' Russia, Sir Tony said it was. However, he also insisted that 'America is sticking with Nato'. 'America is going to continue to provide all of us in Europe with the nuclear security guarantee,' he said, while cautioning that the US has other priorities, from homeland security to the Indo-Pacific. 'We no longer have that guarantee in terms of conventional American help for the security of Europe,' Sir Tony said. 'That is a significant change and that's why you are seeing Europe responding.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more.
Yahoo
an hour ago
- Yahoo
How China wins in the new propaganda war
American influencers are flooding China to show off its technology and culture — while the US has expelled the world's most-followed TikToker. A new Chinese initiative will pay for US influencers to visit and collaborate with local counterparts, according to Chinese state media, which said the program would boost cultural exchange. It's an investment in soft power and a propaganda coup: State outlets praised recent visits from Western influencers like IShowSpeed (whose six-hour YouTube video on his Shenzhen visit has nearly 9 million views) for showcasing 'authentic' life in China, Bloomberg wrote. The US' immigration crackdown, meanwhile, is pushing out influencers. The Italian citizen Khaby Lame, the world's most popular TikToker, was recently detained by US authorities and left the country after being reported by a rival influencer who is friends with President Donald Trump's son Barron.
