Latest news with #RapidDamageandNeedsAssessment
Yahoo
03-04-2025
- Business
- Yahoo
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.
Yahoo
25-02-2025
- Business
- Yahoo
Ukraine needs $524 billion for recovery, reconstruction after 3 years of Russia's full-scale war
The cost of reconstruction and recovery in Ukraine after three years of Russia's full-scale invasion will be $524 billion over the next decade, the U.N. reported on Feb. 25, citing data from Ukraine's government, the World Bank, the European Commission, and the U.N. Since the beginning of the full-scale invasion, Russia has been attacking Ukrainian cities and villages daily, destroying residential buildings, critical infrastructure, cultural heritage sites, and sports venues, among other facilities. The required reconstruction costs are 2.8 times higher than Ukraine's nominal GDP for 2024, according to the report. Direct losses in Ukraine reached $176 billion at the end of December 2024 compared to $152 billion in February last year, the Rapid Damage and Needs Assessment (RDNA4) by the World Bank estimated. Housing, transportation, energy, trade and industry, and education sectors have suffered the most from Russian attacks, the report read. Some 13% of Ukraine's total housing stock was damaged or destroyed, affecting over 2.5 million homes. In the energy sector, the number of damaged or destroyed assets, including production, transmission, distribution, and district heating infrastructure, increased by 70%. Donetsk, Kharkiv, Luhansk, Zaporizhzhia, Kherson, and Kyiv oblasts sustained nearly 72% of the total damage. Read also: In negotiations with Russia, Trump is repeating his 'complete disaster' peace deal with Taliban We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
Yahoo
25-02-2025
- Business
- Yahoo
Ukraine needs US$524bn for recovery and reconstruction
Three years after the beginning of Russia's full-scale invasion of Ukraine, the total cost of reconstruction and recovery in Ukraine is estimated at US$524 billion over the next decade, which is 2.8 times the country's nominal GDP for 2024. Source: data from Ukrainian government, World Bank Group, European Commission, UN Details: The fourth Rapid Damage and Needs Assessment (RDNA4), which covers losses from 24 February 2022 to 31 December 2024, shows that direct damage in Ukraine has now reached US$176 billion, up from US$152 billion in the RDNA3 assessment of February 2024. The most affected sectors are housing, transport, energy, trade and industry and education. The current estimate indicates that 13% of the total housing stock has been damaged or destroyed, impacting over 2.5 million households. In the energy sector, the number of damaged or destroyed assets – including power generation, transmission, distribution infrastructure and district heating – has increased by 70% compared to the previous assessment. The oblasts closest to the front line – Donetsk, Kharkiv, Luhansk, Zaporizhzhia, Kherson, and Kyiv oblasts – account for approximately 72% of the total damage. The highest reconstruction and recovery needs are in the housing sector (almost US$84 billion), followed by transport (almost US$78 billion), energy and extractive industries (almost US$68 billion), trade and industry (almost US$64 billion), and agriculture (over US$55 billion). Across all sectors, debris clearance and waste management alone will cost nearly US$13 billion. Background: As of the end of 2023, the estimated cost of Ukraine's post-war recovery had risen by US$75 billion, reaching US$486 billion. Support Ukrainska Pravda on Patreon!
