500 billion dollars cost Ukraine reconstruction

The President of the World Bank, Ajay Banga, stressed, in an interview with Agence France -Presse, the need to involve the private sector in the investments necessary to rebuild Ukraine after the end of the war.

Banga pointed out that the reconstruction efforts will be enormous, speaking about an amount of “more than $ 500 billion over 10 years, equivalent to three times the GDP of Ukraine.”

He said, “It will be impossible to return to what things were, so we need to find innovative solutions.” This will include the reforms that the Ukrainian government had previously implemented, explaining: “But more must be done” with the aim of “finding ways to attract private capital.”

The President of the World Bank continued: “We are estimated that among the required $ 500 billion, which will come almost a third of the private sector.”

He said: “There are many issues on the table, as you know, including how Ukraine can use its mineral wealth by working on a perhaps partnership with the United States in order to be able to invest in it.”

The US government wants to push Ukraine to sign an “economic partnership” agreement that would allow the establishment of a joint fund to exploit mineral resources, especially rare minerals, which would finance partially Ukraine’s reconstruction, while US President Donald Trump hopes to compensate for billions of dollars from military aid provided by his predecessor Joe Biden to Ukraine.