The World Bank has asserted that the war-ravaged Ukraine needs $411 billion for recovery and reconstruction as Russia’s invasion over a year mounts a plethora of destruction.
The assessment was jointly made by the World Bank, Ukraine’s government and the European Commission and the United Nations on Wednesday.
According to the Alarabiya report, Ukraine also expects ‘$14 billion for critical and priority reconstruction and recovery investments in 2023.’
Meeting these needs will call for $11 billion in financing beyond what Ukraine’s government has already addressed in its 2023 budget, according to the assessment.
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Africa Today News, New York reports that the Russia’s invasion of Ukraine in late February 2022 has displaced millions of people, and global food and energy prices surged in the fallout from the war.
‘Energy infrastructure, housing, critical infrastructure, economy, and humanitarian demining are our five priorities for this year,’ said Ukraine Prime Minister Denys Shmygal in a statement.
He added that part of the reconstruction work has already been done.
But Shmygal warned that ‘the amount of damage and recovery needs currently does not include data on the loss of infrastructure, housing and businesses in the occupied territories.’
When the defence forces released them, authorities will start restoration work in these territories, he said.
In another report, the International Criminal Court (ICC) has expressed serious concern over alleged ‘threats’ from Russia after it issued a war crimes arrest warrant for President Vladimir Putin last week.
The ICC’s statement of concern on Wednesday came after former Russian President Dmitry Medvedev threatened to hit the war crimes court in The Hague with hypersonic missiles. It also followed Russia’s top investigative body opening a criminal case against ICC Prosecutor Karim Khan as well as the judges who issued the warrant for Putin.
The presidency of the ICC’s Assembly of States Parties said it ‘regrets these attempts to hinder international efforts to ensure accountability for acts that are prohibited under general international law’.
The assembly also ‘reaffirms its unwavering support for the International Criminal Court”, the presidency said.
‘The International Criminal Court embodies our collective commitment to fight impunity for the gravest international crimes. As an institution of last resort, the Court is complementary to national jurisdictions. We call on all States to respect its judicial and prosecutorial independence,’ it added.
Medvedev said on Monday: ‘It’s quite possible to imagine a hypersonic missile being fired from the North Sea from a Russian ship at The Hague courthouse.’