Ukraine needs $750 bln for recovering from war

Ukraine’s prime minister stated on Monday that the country needed $750 billion for a three-stage rebuilding plan in the aftermath of Russia’s invasion.

Denys Shmygal also stated at the Switzerland-hosted Ukraine Recovery Conference that the invasion by Russia had directly cost the Ukrainian economy more than $100 billion.

He said that the direct infrastructure damages to Ukraine currently total more than $100 billion. “Who will pay for the renewal plan, which has a $750 billion estimated cost?”

Shmygal said, “According to the Ukrainian government, assets seized from Russian billionaires should serve as a major source of money for the rehabilitation plan.”

According to him, the country’s recovery plan is divided into three phases: a first phase that is ongoing and focuses on fixing issues that are important for people’s daily lives, such as water supply, a second phase known as “fast recovery,” which will begin as soon as fighting is over and includes projects for temporary housing, hospitals, and schools, and a third phase that aims to transform the nation over a longer period of time.

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