<
https://www.theguardian.com/business/2024/feb/15/ukraine-frozen-russian-assets-rebuild-war-economy-reconstruction>
"Ukraine has called for frozen Russian assets to be used to rebuild the
country’s war-ravaged economy after a report showed the cost of reconstruction
increasing to almost $500bn.
In their third assessment of the likely price tag for recovery and
reconstruction after Russia’s invasion two years ago, the World Bank, Ukraine’s
government, the European Commission and the UN said the war had caused the
economy to shrink by more than 25% and had been a “dramatic setback” to
Ukraine’s development.
Ukraine’s prime minister, Denys Shmyhal, said: “The needs or reconstruction
have continued to grow over the past year. The main resource for Ukraine’s
recovery should be the confiscation of Russian assets frozen in the west. We
need to start this process already this year.”
An estimated $300bn of Russian assets have been frozen since the war started in
February 2022.
The report said the direct damage to Ukraine was $152bn but the 10-year cost of
piecing together the country’s key infrastructure – such as housing, roads,
railways and power plants – would be much higher at $486bn – an increase of
$75bn since its last report a year ago.
In 2024 alone, Ukrainian authorities estimate the country will need about $15bn
for immediate reconstruction and recovery priorities, of which only $5.5bn has
been secured from international partners and its own resources."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
