12 December 2022, Monday, 19:38 98

Cost Of Emergency Support For Ukraine's Electricity And Heat Supply Estimated At USD 1 Billion - Shmyhal

Редактор: Daria Zubkova

The cost of emergency support for Ukraine's electric power industry and centralized heat supply system is estimated at USD 1 billion, and Ukraine's reconstruction needs will reach USD 600 billion. Prime Minister Denys Shmyhal announced this in the Telegram channel, Ukrainian News Agency reports.

"Due to Russia's attack on the electric power system, half of our energy infrastructure has been damaged. And this affects all sectors of the economy. The estimated cost of emergency support for the electric power industry and the heating sector is estimated at USD 1 billion in total. According to preliminary estimates by the World Bank and the Government of Ukraine, the needs for reconstruction will reach USD 600 billion," Shmyhal said.

According to him, the estimated cost of emergency support of the electric power industry is estimated at USD 500 million, the cost of emergency support of the district heating sector is estimated at another USD 500 million.

Shmyhal turned to the Council of the Organization for Economic Cooperation and Development (OECD) with a proposal to determine priority areas of work and develop a detailed plan for Ukraine's accession to the organization.

Regarding the overall assessment of recovery needs, the Prime Minister noted that in early September, the World Bank, the European Commission and the Government presented a joint report with the first objective assessment of Ukraine's needs. According to the report, total reconstruction and rehabilitation needs of Ukraine were estimated at USD 349 billion as of June 1, 2022. According to the previous updated estimates of the World Bank and the Government of Ukraine, the needs for reconstruction will increase to USD 500-600 billion.

He emphasized that Ukraine already needs help today and appealed to the OECD Council to provide help for urgent recovery.

Shmyhal emphasized that despite everything, Ukraine continues reforms and European integration and expects to receive a clear rapprochement plan with the OECD in order to jointly review progress and start accession negotiations in a year.

Ukraine aspires to join the OECD as a leading platform for democratic countries with a market economy to exchange experience in matters of post-war recovery, reforms, and the formation of state policies.

As Ukrainian News Agency earlier reported, President Volodymyr Zelenskyy in a telephone conversation with U.S. President Joseph Biden on December 11 announced the destruction by Russia of about 50% of Ukrainian energy infrastructure.

Earlier, Shmyhal reported that as a result of massive Russian missile attacks in Ukraine, all thermal and hydroelectric power stations were damaged and 40% of high-voltage network facilities were damaged to varying degrees.

In July, in Lugano (Switzerland), Shmyhal on behalf of the state submitted an application for Ukraine to join the OECD, in October he announced that the OECD recognized Ukraine as a potential member of the organization.

Больше новостей о: Russia war Ukraine Prime Minister Russian aggression Denys Shmyhal OECD war with Russia Russia's war against Ukraine recovery of Ukraine support of Ukraine massive missile attack on Ukraine damaged energy infrastructure damaged energy infrastructure in Ukraine