Foreign experts give estimates for rebuilding Donbas / Photo from UNIAN
A project for the development of the affected districts could become an opportunity for accelerated development and the introduction of advanced approaches.
International experts estimated that more than US$21 billion is needed to rebuild the occupied parts of Donetsk and Luhansk regions.
Deputy Prime Minister of Ukraine and Minister for Reintegration of the Temporarily Occupied Territories Oleksiy Reznikov announced the figure during a roundtable event on the National Economic Strategy until 2030, according to the government portal.
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"As Center for Economic Strategies estimates, losses in Donetsk and Luhansk regions amount to UAH 375 billion (US$13.5 billion), excluding the value of assets located in the occupied territories. According to the Vienna Institute for International [Economic Studies], the cost of rebuilding Donetsk and Luhansk regions exceeds US$21 billion... We must consider a project for the development of the affected areas as an opportunity for accelerated development, the introduction of the most advanced approaches and reforms in those territories," Reznikov said.
He says there are currently four ways to raise funds for the economic recovery of those regions – budget funds, donor assistance, loans and credits, as well as creating a climate encouraging investment. The investment attractiveness could be improved by creating special regimes for investors and businesses, he said.
Director of Center for Economic Recovery Kyrylo Kryvolap says the economic development strategy of Donetsk and Luhansk regions is a component of Ukraine's economic strategy until 2030.
"On December 23, the Cabinet of Ministers approved the concept of economic development of Donetsk and Luhansk regions, which will subsequently form a basis for the corresponding strategy. And we see that this section must necessarily be part of the National Economic Strategy until 2030. These two processes must converge at one point, because one cannot be imagined without the other," he added.