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Preparing for Ukraine’s Reconstruction

With the estimated cost of Ukraine’s postwar recovery reaching hundreds of billions of dollars, Western governments must develop a cohesive, unified strategy. Establishing a multilateral agency for allocating and administering aid money will be crucial to ensuring transparency and preventing corruption.

STOCKHOLM – As Ukraine’s counteroffensive gets underway, Western countries must help liberate all Ukrainians living under Russian occupation. But Western assistance must not end once Russia is defeated. Ukraine’s supporters must also help its postwar recovery.

The Ukraine Recovery Conference in London on June 21-22 is an opportunity to catalyze the reconstruction process. The annual gathering, which has been organized by Ukraine’s international allies since 2017, will bring together representatives from Ukraine and other countries, as well as international organizations and NGOs, each with their own proposals for organizing the country’s recovery. The hope is that the conference will integrate these initiatives into a cohesive strategy.

The World Bank, in collaboration with the Kyiv School of Economics and the Ukrainian Ministry for Communities, Territories, and Infrastructure Development, recently estimated the damage wrought by Russia’s war of aggression. The report puts the cost of Ukraine’s reconstruction at more than $411 billion, 2.6 times its actual GDP in 2022.