WORLD BANK / UKRAINE RECOVERY COST

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09-Sep-2022 00:04:27
A joint assessment by the World Bank and the government of Ukraine estimates that the cost of reconstruction and recovery for Ukraine is US$349 billion. WORLD BANK

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STORY: WORLD BANK / UKRAINE RECOVERY COST
TRT: 4:26
SOURCE: WORLD BANK
RESTRICTIONS: NONE
LANGUAGES: ENGLISH / NATS

DATELINE: 9 SEPTEMBER 2022, Washington DC

SHOTLIST:

1. Various shots, World Bank Group Headquarters
2. SOUNDBITE (English) ANNA BJERDE, Vice President for Europe and Central Asia, World Bank:
“We have then looked at what are the most urgent needs. And the most urgent needs, we assess them at $100 billion. And that again, is the need to essentially restore essential infrastructure services but also health and education as well as needs in the services sector, commercial sector and industrial sector. And it would need to be implemented over a period of time. We have assessed that period of time will be anywhere between 18 to 36 months.”
3. Various shots, World Bank Group Headquarters
4. SOUNDBITE (English) ANNA BJERDE, Vice President for Europe and Central Asia, World Bank:
“The impact of this war is devastating. And it's at many levels. First and foremost, the humanitarian crisis is staggering. And we have of course seen it. Many people have been internally displaced. Many people have had to leave Ukraine. We ourselves estimate that if this work continues and the Ukraine also has to resort to some level of austerity, we could by the end of 2023 see poverty at close to 60% using what we call the $5.50 yardstick per day. That is staggering because before the war, Ukraine had managed to get poverty down over 2%. So let's just start with that. Second, of course, is the devastating impact on the economy as a whole. In the spring, we came out with a prediction that the economy would shrink by 45%. We're reviewing that number right now. We will come out in a couple of weeks with our updated outlook. But the economy has taken a huge hit. And thirdly, of course, just the destruction of infrastructure. As we've seen, housing, cities have been leveled. Transport, infrastructure, bridges. So this is this is a devastating situation at all levels.
5. Various shots, World Bank Group Headquarters
6. SOUNDBITE (English) ANNA BJERDE, Vice President for Europe and Central Asia, World Bank:
“Key finding of the report is that the reconstruction needs of Ukraine will be very large. And that is because work has had a devastating impact both on infrastructure, particularly housing, health, education, also economic activity and the services of the economy. And the second big finding of this report is that it's going to take time, because the amount is so large, we cannot expect it to be implemented overnight. It is going to require significant funding mobilization, but it's also going to require institutional capacity and support by the international community to support Ukraine in its implementation.”
7. Various shots, World Bank Group Headquarters
8. SOUNDBITE (English) ANNA BJERDE, Vice President for Europe and Central Asia, World Bank:
“We have used an internationally recognized and standardized methodology that has been developed over time that the World Bank, European Commission, the UN has used also in other cases of war, but also natural disasters. So our methodology is quite robust. But as I mentioned, we had to take a time-slice because after that, you need to basically evaluate and assess and analyze. So these numbers and this study of this report covers the period of the beginning of the war to June 1. So that's the time slice. So I think it's important to know because since then, the war has sadly continued and the numbers keep continuing, so this is what we call, in many ways, a minimum number. But this is also why you might see different numbers out there. Our report covers this particular period of time. Now it does cover all of the sectors that you see across infrastructure, particularly housing, but also health, education and commerce and industry. And it does cover the entire territory of the Ukraine. And it also covers something very important, which is de-mining and land de-contamination, which is a big part of coming through the war. There's been a lot of mining, and mining around the territory that also needs to be part of the recovery and reconstruction and there is a very significant cost to that.”
9. Various shots, World Bank Group Headquarters

STORYLINE:

A joint assessment by the World Bank and the government of Ukraine estimates that the cost of reconstruction and recovery for Ukraine is US$349 billion.

This figure is expected to grow in the coming months as the war continues. Urgent needs are estimated at around $100 billion.

The Rapid Damage and Needs Assessment (RDNA) presents the first comprehensive evaluation of war impacts across twenty different sectors following the Russian invasion.

It also lays out the financing needs for a resilient, inclusive, and sustainable recovery and reconstruction and provides a roadmap for planning.

The assessment covers the impacts of the war sustained between February 24 and June 1, 2022.
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WORLD BANK
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unifeed220909d
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2931186