The terrible development of events in Ukraine is taking longer and longer than people expect, says David Malpass.
By 2023, the financing gap for recovery and reconstruction in Ukraine will reach $11 billion. Such data was announced by the head of the World Bank (WB) David Malpass during the traditional “Spring meeting” of the WB and the IMF, Interfax-Ukraine reports on Tuesday, April 11.
Malpass said that the terrible developments in Ukraine are taking longer and longer than people expect. According to him, the World Bank participated in providing assistance in the direction of international resources to the civil sector of Ukraine, and is currently also looking at the restoration of the Ukrainian economy.
He announced under his leadership the third “round table” of ministers on April 12 in support of Ukraine, in particular, to find the necessary funds for a quick recovery.
“The senseless war in Ukraine can only end with a decision to stop the war by the country that invaded Ukraine,” Kristalina Georgieva, IMF Managing Director, said in her turn at the opening of the meeting.
He emphasized the importance of discussing the problem of the war in Ukraine, because it diverted the attention of the whole world from many other problems.
“This war not only kills people, but also increases food prices… It creates more geopolitical tension, which reduces the ability of the world to work as a whole. So I want to admit that there is a problem which these meetings cannot solve. , but if it can be solved, it will help a lot with the agenda we are discussing,” said Georgieva.
The cost of Ukraine’s reconstruction has risen to $411 billion, more than double the size of Ukraine’s pre-war economy by 2021, according to the latest World Bank estimates. The bank also downgraded its forecast for Ukraine’s GDP.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.