Ukraine needs US$1 billion for rapid restoration of electricity and heating supply
Ukraine needs US$1 billion for a quick restoration of critical infrastructure to go through the winter period.
It was reported by Denys Shmyhal, Prime Minister of Ukraine, during a meeting of the Organisation for Economic Co-operation and Development (OECP).
Smyhal said that the plan of Ukraine’s post-war restoration includes three stages.
"But right now, the main priority is survival and rapid restoration of critical infrastructure and the energy sector to get through the winter period," emphasised the prime minister.
Shmyhal said that the latest Russian attacks against Ukraine’s energy system resulted in half of the energy infrastructure being damaged, as well as to the destabilisation of the power grid. The implementation of scheduled and emergency power outages in the country affected all sectors of Ukrainian economy and social life.
"The approximate cost of emergency support for the electric power industry is estimated at US$500 million. The approximate cost of the district heating sector support is estimated at another US$500 million," Shmyhal pointed out.
In addition, according to the report of the World Bank, the European Commission and the Cabinet of Ministers [the highest body of state executive power in Ukraine], total reconstruction and recovery needs of Ukraine are estimated at US$349 billion as of June 1, 2022. Previous updated estimates of the World Bank and the Government of Ukraine stated that the needs for reconstruction will increase to US$500-600 billion.
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