According to a new study by the World Bank, the United Nations, and the European Union, at least 411 billion euros will be needed to rebuild Ukraine after the invasion launched by Russia a year ago.

This is 2.6 times more than the gross domestic product of our country in 2022. 

This is reported by Reuters. 

Published on Wednesday, March 22, the assessment covers a period of one year from the start of the Russian invasion on February 24, 2022, and identifies the direct physical damage to infrastructure and buildings, the impact on lives and livelihoods, and the cost of reconstruction.  

The $411 billion figure is a sharp revision from a previous estimate of $349 billion put forward by the World Bank last September. 

Compared to earlier estimates, the largest revision was made to needs in the energy sector, where losses are now five times higher than in June 2022, the World Bank said.

The largest increase was observed in the frontline regions, such as Donetsk, Kharkiv, Luhansk and Kherson, which were mainly the targets of Russian missile attacks starting in October. 

Prime Minister of Ukraine Denys Shmyhal noted that the World Bank's estimates do not include data on the damage caused to infrastructure, houses and businesses in the territories currently occupied by Russian troops.

The new assessment comes a day after the International Monetary Fund (IMF) announced it had reached an agreement with the Ukrainian government on a four-year deal worth a total of $15.6 billion.

The deal with the IMF could allow the authorities in Kyiv to receive billions of dollars in additional aid from other organizations after it is approved by the IMF's board of directors in the coming weeks. 

According to the Rapid Assessment of Urgent Needs, Ukraine will need $14 billion in priority reconstruction in 2023, which will require funding of $11 billion over and above what is provided for in Ukraine's budget for this year.

About 22% of reconstruction needs fall on the transport sector, 17% on the housing sector, 11% on the energy sector, and 7% on agriculture. 

We will remind you that the Ukrainian government is creating an electronic map of Ukraine, which records all the damage caused by the war.

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