Ukrainian government estimates the value of damage to civilian homes and infrastructure since the beginning of Russia’s invasion to be at US$700-billion
Ukraine is set to begin using money seized from Kremlin-controlled banks to rebuild homes that were damaged or destroyed over the course of Russia’s invasion.
The 17 billion hryvnia seized from International Reserve Bank, which is owned by Kremlin-controlled Sberbank, and Prominvestbank, an arm of Russia’s official development bank, VEB, will only cover a tiny fraction of the devastation. Entire cities and towns have been left in ruins since Russian President Vladimir Putin launched his full-scale invasion on Feb. 24 of last year.
Ms. Shuliak said the initial reconstruction fund was something of a test case – that Ukraine hoped its allies would contribute other seized assets once they were convinced of its effectiveness. After a series of scandals earlier this year that saw Mr. Zelensky fire several senior officials in his government, Ukraine needed to show there was no room for corruption in the rebuilding effort, she added.
France Dernières Nouvelles, France Actualités
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