Posted on 03/22/2023 3:22:05 PM PDT by Oldeconomybuyer
WASHINGTON (AP) — A World Bank report released Wednesday puts the cost of Ukraine’s recovery and rebuilding from Russia’s invasion at $411 billion over the next decade, with the cost of cleaning up the war rubble alone at $5 billion.
The report details some of the toll of Russia’s war in Ukraine: at least 9,655 civilians confirmed dead, including 461 children; nearly 2 million homes damaged; more than one out of five public health institutions damaged; and 650 ambulances damaged or looted.
In all, the World Bank calculated $135 billion in direct damage to buildings and infrastructure so far, not counting broader economic damage.
The damage would be even worse if not for the strong defense mounted by the Ukrainian forces, Anna Bjerde, the World Bank vice president for Europe and Central Asia, noted in a call with reporters. She said the worst damage has been confined to the front-line regions of Donetsk, Kharkiv, Luhansk and Kherson.
As it is, the World Bank said, Russia’s invasion has undone 15 years of economic progress in Ukraine, cutting Ukraine’s gross domestic product by 29% and pushing 1.7 million Ukrainians into poverty.
The assessment was carried out by the government of Ukraine, the World Bank Group, the European Commission and the United Nations. The findings are meant to guide planning for financing and carrying out what is an ongoing recovery effort in Ukraine.
The report said it was essential to keep Ukraine’s government and private business and recovery efforts going even as bombs fall and fighting persists. Postponing rebuilding and support “risks settling into a situation of low or no growth and facing huge social challenges once the war ends,” it said.
(Excerpt) Read more at apnews.com ...
I thought the Ukraine security problem was it joining NATO.
Before draining that much from taxpayers, what’s left of it should be given to Russia.
Who owns the world bank?
How much did the World Bank say the rebuilding of Afghanistan cost?
The American taxpayers will pay for it. American firms will get the contracts.
The well-connected (not you or me) will be the recipients of a bottomless pit of graft and kickbacks.
The rebuilding of Ukraine will make a lot of rich people even richer.
Just a thought...
1. How much of Mariupol has been rebuilt since Russia “won” the rubble in May last year?
2. How much did it spend on that rebuild?
3. Is the rebuild “top dollar”, or is it about as high quality as a southern Turkey high rise?
For the sake of argument, if Russia’s had to spend $500m putting only 10% of the city back in a vaguely working state, that means it’ll cost far more than $5bn to restore the city to a BASIC standard (there’s no way they’re rebuilding entire tower blocks in a matter of a few months to a high quality earthquake-proof standard. Turkey is probably regretting its lamentable building quality control.)
If they really want to show off how much nicer and more modern Mariupol could be after a total ground-up Russian rebuild, and do it to a standard that surpasses anything Ukraine could’ve managed in peacetime, they’ll need to double the spend.
Now consider that Mariupol is WAY smaller than Donetsk, Luhansk, and Lysychans’k + Severodonetsk... To make the Donbas city rebuilds surpass what has been demolished, Russia would need to spend over $75bn.
Of course Russia doesn’t need to rebuild ALL of it because far more than half of the Donbas population already chose not to live under DPR or Russian occupation.
Rest assured, Russia will rebuild the parts of Russia that used to be Ukraine.
They did a pretty good job rebuilding Grozny. They know what they're doing.
It’ll be in the several TRILLIONS, not merely billions.
One little problem with your prediction. Biden is going to see that the war continues as long as he is in office. I certainly don’t expect a Republican administration will be sending any money.
I will certainly agree it would have been better had this war been prevented...but not for the weapons industrial complex nor the Biden crime family.
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