Ukraine needs $750 billion for the recovery plan
Ukraine needs $750 billion for a three-stage recovery plan in the wake of Russia’s invasion, the Prime minister of Ukraine said on Monday, July 4, 2022.
Denys Shmyhal also told the Ukraine Recovery Conference hosted by Switzerland that there had been over $100 billion of direct damage to Ukrainian infrastructure from Russia’s invasion.
“Today, the direct infrastructure losses of Ukraine stand at over $100 billion,” he said. “Who will pay for the renewal plan, which is already being valued at $750 billion?”
Shmyhal added that the Ukrainian government believed that the basic funding source for the recovery plan should be assets confiscated from Russian oligarchs.
He said Ukraine’s recovery plan had three phases: the first one is focused on fixing things that matter to people’s daily lives like water supply, a “fast recovery” component that will be launched as soon as fighting ends, including temporary housing, hospital, and school projects, and one that aims to transform the country over the longer term.