Ukraine needs USD 1 bn to quickly restore power and heat disrupted by Russian missile strikes – PM Shmyhal

Ukraine needs USD 1 bn to quickly restore power and heat disrupted by Russian missile strikes – PM Shmyhal

Ukraine's Prime Minister Denys Shmyhal. Photo: kmu.gov.ua 

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Ukraine needs $1 billion to quickly restore critical infrastructure to get through the winter, Prime Minister Shmyhal said during a meeting of the OECD.

He said that the plan for the restoration of Ukraine after the war has three stages, but the number one priority right now is “the stage of survival – the rapid restoration of critical infrastructure and the energy sector for the winter period.”

Shmyhal said that the latest Russian attacks have damaged half of the energy infrastructure in Ukraine and destabilized the power grid. The introduction of scheduled and unscheduled power cuts in the country has affected all sectors of the economy and social life of Ukraine. $500 mn is needed to provide emergency support to the power sector, and another $500 mn – for the heating sector.

In addition, according to the report of the World Bank, the European Commission, and the Cabinet of Ministers, the total needs for the reconstruction and recovery of Ukraine as of June 1 were estimated at $349 bn. According to preliminary updated estimates of the World Bank and the Government of Ukraine, the needs for reconstruction will increase to $500-600 bn.

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