Ukraine may need up to EUR1 trillion in foreign aid to repair the damage caused by the Russian invasion, Bloomberg reports the words of the head of the European Investment Bank, Werner Hoyer, at a press conference in Frankfurt on Tuesday.
“I put (estimate) a trillion because I saw numbers in the public space that I consider completely unrealistic when I see the level of destruction in Ukraine,” Hoyer said.
In his opinion, Europe will have to play the biggest role in these efforts.
The head of the EIB also said that he is currently trying to redistribute the bank’s liabilities in the amount of EUR1 to EUR1.5 billion to restore Ukraine. According to him, the corresponding approval can be obtained as early as this week.
Prime Minister of Ukraine Denys Shmygal, in an interview with Interfax-Ukraine at the end of March, also said that Ukraine’s losses from Russia’s full-scale military aggression, taking into account both the destruction already inflicted on infrastructure and the economy, and future losses in subsequent years, exceed $1 trillion.
According to him, its first component is direct infrastructure damage, which at that time was estimated at about $120 billion, and taking into account military infrastructure and other civilian expenses, more than $270 billion.
The prime minister added that the second component is the calculation of the losses of the Ukrainian economy: the fall in GDP during the war, lost profits and investments – more than $ 290 billion, and the third – the losses received by the state as a result of a decrease in GDP in the future.
According to the State Statistics Service, in 2021, Ukraine’s GDP grew by 3.4% after a 3.8% decline in 2020, its nominal volume amounted to about $200 billion. This year, the fall in GDP is predicted by various experts in the range of 30-45%.
Switzerland will hold an international conference on the restoration of Ukraine on July 4-5, the EFE news agency reported on Monday.
The conference, which will be held in Lugano, will be organized by the Swiss government together with Ukrainian representatives. It is expected that the discussion of the restoration of Ukraine will be held in four main directions: social, economic, environmental and infrastructural.
It is expected that the meeting will be attended by delegations from European countries, as well as from Canada and the USA. Representatives of international organizations, including the World Bank, are expected to attend the event.
In parallel with the conference, a cultural program is planned: concerts of classical and jazz music with musicians and artists from Ukraine.
During the UK-Ukrainian infrastructure summit in London, Ukraine and the UK, as well as representatives of UK business, signed a Memorandum on Ukraine’s infrastructure restoration.
The Ministry of Infrastructure of Ukraine said in a report on its website on Saturday that this memorandum provides an opportunity for UK business to fully participate in the restoration of Ukraine’s infrastructure destroyed by Russia.
In partnership with UK business, a working group has been created that will work on the restoration of the critical infrastructure of Kyiv city and the region.
“The Ministry of Infrastructure is already developing a public register of damaged infrastructure and, together with colleagues in the government and international partners, is developing solutions for digital recovery management,” Ukrainian Infrastructure Minister Oleksandr Kubrakov was quoted as saying.
According to him, now about 30% of the infrastructure in Ukraine has been destroyed.
At the same time, in the course of work on the restoration of transport communication, 41 temporary crossings have already been installed, almost 1,000 km of roads have been cleared.
The Ministry of Infrastructure said that the government of the UK, in particular, Secretary of State for Transport Grant Shapps, from the start of a full-scale invasion of Russia, provided full support in repelling aggression, restoring destroyed infrastructure and establishing supply chains in the condition of the war.
The supply of weapons to Ukraine from the United States under the lend-lease procedure has not yet begun and may start in a few months, says Secretary of the National Security and Defense Council (NSDC) Oleksiy Danilov.
“Lend-lease hasn’t started yet. But the adoption of the lend-lease law itself is a very positive decision for us. And lend-lease will be, the question is when. Here we come back to the fact that everyone’s clocks work differently in the war. For some, a day is like a day, but for us it’s completely different dimensions,” Danilov said in an interview with the League published on Saturday morning.
To a clarifying question when lend-lease arms deliveries are expected, he replied: “it could be July-August, maybe September.”
At the same time, Danilov said that there were “almost no Soviet-made ammunition of 122 and 155 mm caliber left.”
When asked how he assesses the results of Rammstein-3, the NSDC secretary replied: “We need to ask ourselves: who owes us something? To do this, we need to have a slightly different relationship with those countries that commit themselves. If our country were a member of NATO, it would be a completely different conversation.”
“Today we have to thank the countries that are helping us. There are a lot of them. We don’t know about all of them. A lot of countries ask not to voice the military weapons that they transfer to us. Time will pass and there will be our victory – we will thank everyone,” he said.
“No one will defend our country except us. Will they help us with weapons? They will. Will this weapon be enough? There are never enough weapons. But in this war, each country has its own tasks and visions for itself,” Danilov stressed.
President of the European Council Charles Michel has announced that the issue of granting Ukraine the status of a candidate for membership of the European Union will be included in the agenda of the upcoming summit, which will be held in Brussels on June 23-24.
He wrote about this on his Twitter page. “Candidate status will feature on next week’s EUCO agenda. Called President Zelensky to inform him of way forward. We stand united with the people of Ukraine in solidarity and in our common future, ” the President of the European Council wrote.
European Commission President Ursula von der Leyen, commenting on her phone conversation with Zelensky, wrote on her Twitter page: “I was very moved by President Zelensky’s kind words over the phone today, following our recommendation to grant Ukraine the candidate status. The Ukrainians can count on the EU_Commission’s constant support as they move along the path to the European Union,” she assured.
The Cabinet of Ministers of Ukraine has abolished the visa-free travel with Russia from July 1, Prime Minister Denys Shmyhal said.
“We are finally breaking ties with Russia. To counter the unprecedented threats to national security, sovereignty and territorial integrity of our state, the government, in pursuance of the order of the President of Ukraine, has just decided to terminate the visa-free agreement with the Russian Federation,” Shmyhal said on the Telegram channel on Friday.
According to him, from July 1, 2022, Russians will not be able to enter Ukraine without obtaining a visa.
