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Rebuilding Ukraine's housing stock will take centuries under current funding

Servant of the People Party Chairwoman Yelena Shulyak warns of huge shortage of funds for reconstruction

Nov 12, 2024 10:36 79

Rebuilding Ukraine's housing stock will take centuries under current funding  - 1

Chairman of Ukraine's ruling party " Servant of the people“ Elena Shulyak expressed serious concern about the delayed restoration of the destroyed housing stock in Ukraine, stressing that with the current annual funding of 4 billion hryvnias, it will take more than 1,500 years to fully restore it. She described the situation as "an attempt to fill a lake with a teaspoon”, reports UNIAN, quoted by Focus.

In a post on Facebook, Shulyak stressed that although the government has found a way to allocate funds in 2025, the 4 billion hryvnias pledged in next year's state budget bill is grossly insufficient compared to the needs of the housing reconstruction program. known as eVidnovnely.

Since the start of the program in May 2023, a total of 15.9 billion hryvnias have been paid out, of which 7 billion hryvnias are intended for compensation, and 8.9 billion hryvnias for vouchers for used housing.

According to World Bank estimates, the losses for Ukraine from February 24, 2022 to the end of 2023 amounted to 152 billion dollars, which covers only the direct damage to the infrastructure and the housing stock. At the current exchange rate, recovery needs are estimated at 6.3 trillion hryvnias – an amount that requires large-scale financing far beyond the current capabilities of the Ukrainian budget, Shulyak concludes.