Kiev: A recent assessment by the nation's government, the World Bank, the European Commission and the United Nations shows that the cost of Ukraine's reconstruction and recovery has risen to $411 billion. The assessment found that Kiev would need $14 billion this year for the most important and priority reconstruction investments.

According to the assessment, in addition to the funds already earmarked for these works in the annual budget, the estimated cost indicates that the country's government will require $11 billion in additional funding from abroad.

According to Ukrainian Prime Minister Denis Shmygal, the economy, housing, critical infrastructure, energy infrastructure and humanitarian infrastructure are the top five priorities for this year.

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When comparing the new valuation with the previous one, which the group had released in September last year, it was an increase of $60 billion.

The estimated cost of recovery and repair at that time was $349. The numbers show that most of the damage caused to the country was inflicted during the first half of the ongoing conflict with Russia that began in late February 2022.

According to the report, "the number should be considered a minimum as the needs will continue to grow as long as the war continues." According to Anna Bjerde, World Bank Vice President for Europe and Central Asia, rebuilding Ukraine "will take many years".

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However, the official did not give any time frame for when it might actually start. According to Bjerde, in order to increase the amount of money available for reconstruction, a significant amount of private investment must "complement" public investment in Ukraine. The exact party responsible for paying the bill was not immediately clear.

According to Shimgal, damage to infrastructure, housing and commercial establishments in the occupied areas is currently not taken into account in the assessment of damages and recovery requirements.

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The prime minister was apparently referring to Crimea, which broke away from Ukraine and was reunited with Russia after the Maidan coup in Kiev in 2014, as well as the former Ukrainian region that was incorporated into Russia as a result of a referendum last year. Were gone - Kherson and Zaporozhye regions with the Donetsk and Lugansk People's Republics.