Ukraine needs 411 billion dollars for recovery – World Bank
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The World Bank has increased its assessment of Ukraine’s needs for funds for recovery and reconstruction to at least 411 billion dollars.
It is reported Bloomberg citing World Bank calculations based on losses incurred during the first year of the great war.
This figure is 2.6 of the projected GDP of Ukraine for 2022.
The WB assessment also found that the invasion pushed 7.1 million people into poverty and rolled back 15 years of development progress.
Last September, the World Bank made its first estimate of $349 billion, based on losses in the first three months of the war.
According to the World Bank, losses did not increase as much as expected after the first three months due to several factors. Among them: the greatest intensity of hostilities remains limited to areas that have already suffered significant destruction; some of the country’s needs have already been met by the government with international support; and the government’s ability to maintain uninterrupted delivery of essential services.
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