The Russian invasion continues to cause massive destruction of Ukraine\u2019s infrastructure \u2013 including water supply, sanitation, mobile and electricity networks thereby further endangering the Ukrainian citizens. According to a recent economic update by the World Bank, Ukraine\u2019s economy is projected to shrink by 35 percent by the end of 2022. It is also expected that the number of people living in poverty in Ukraine will rise to around 25 percent by the end of this year, compared to 2 percent prior to the war.<\/p>\n\n\n\n
The World bank in collaboration with the Government of Ukraine and the European Commission have published an analysis of Ukraine\u2019s reconstruction and recovery needs in the form of Rapid Damage and Needs Assessment (RDNA), which estimates the total cost to be $349 billion as of 1 June 2022. This
figure is growing as the war continues.<\/p>\n\n\n\n
The Government of Ukraine with the support of international organizations like the World Bank, the European Union, and the European Bank for Reconstruction and Development (EBRD) as well as countries like USA, UK and others are committed to help Ukraine recover from the crisis and mitigate the economic and human cost of war. Since February 2022, the World Bank has mobilized around US$13 billion in financial support to Ukraine, of which about US$11.4 billion has been disbursed to date.<\/p>\n\n\n\n
The WB financing, supported by UK, the Netherlands, Denmark, Latvia and Lithuania of US$5.8 billion was mobilized under the Public Expenditures for Administrative Capacity Endurance in Ukraine (PEACE) Project, which supports continued government capacity, including the provision of core public services such as health, education, pensions and social protection. A strong collaboration among these stakeholders goes a long way to maintain the powerful message of hope of a better future to all the Ukrainian citizens.<\/p>\n\n\n\n