Latest news with #RapidDamageandNeedsAssessment
MTV Lebanon
4 days ago
- Business
- MTV Lebanon
25 Jun 2025 12:02 PM World Bank backs recovery and reconstruction effort
The World Bank Board of Executive Directors approved yesterday a US$250 million financing to Lebanon to support the most urgent repair and reconstruction of damaged critical public infrastructure and lifeline services, and the sustainable management of rubble in conflict-affected areas. The Lebanon Emergency Assistance Project (LEAP) will prioritize and sequence interventions to maximize economic and social impact within the shortest timeframe and provide a phased approach to response, recovery and reconstruction. The Rapid Damage and Needs Assessment (RDNA) of the impact of the conflict in Lebanon between October 8, 2023, and December 20, 2024, estimated total direct damages across 10 sectors at US$7.2 billion, and reconstruction and recovery needs at US$11 billion. Damage to critical infrastructure and buildings that are critical to economic activity and to the health and safety of communities was estimated at US$1.1 billion across the transport, water, energy, municipal services, education and health care sectors. Considering the scale of needs, the LEAP was designed to support restoration of public infrastructure and buildings, given this is a precondition to economic and social recovery. "Given Lebanon's large reconstruction needs, the LEAP is structured as a US$1 billion scalable framework with an initial US$250 million contribution from the World Bank and the ability to efficiently absorb additional financing—whether grants or loans—under a unified, government-led implementation structure that emphasizes transparency, accountability, and results," said Jean-Christophe Carret, World Bank Middle East Division Director. "This framework offers a credible vehicle for development partners to align their support, alongside continued progress on the Government's reform agenda, and maximize collective impact in support of Lebanon's recovery and long-term reconstruction." The WB financing will support immediate response activities required to accelerate recovery and create the conditions that favor a return to normality, including the safe and well-planned management of rubble that maximizes the reuse and recycling of rubble. Critical support will also be provided to the rapid repair and recovery of essential services, such as water, energy, transport, health, education and municipal services. Finally, the LEAP framework will also support the reconstruction of severely damaged infrastructure, starting with designs and environment and social assessments financed through WB initial financing. Drawing on lessons learned from reconstruction projects around the world, LEAP uses a transparent, data-driven area-based prioritization methodology endorsed by the Council of Ministers, which provides an integrated package of public recovery and reconstruction investments to restore social services and promote economic recovery and growth in conflict-affected areas of Lebanon. Similarly, to ensure the Project's operational readiness and its efficient and prompt implementation, the government has undertaken critical reform measures in the project's implementing agency, the Council for Development and Reconstruction (CDR). These include the establishment of a complete and functional CDR Board of Directors and streamlining administrative and decision-making processing for the LEAP, in line with international best practices for emergency projects. These measures are part of a broader institutional reform agenda that positions and equips CDR to efficiently manage the scale and urgency of Lebanon's recovery and reconstruction effort, guided by transparency, efficiency and accountability principles. The LEAP will be implemented under the strategic guidance of the Prime Minister Office, with coordination across line ministries at the level of the Council of Ministers. The Ministry of Public Works and Transport will have overall leadership and responsibility for Project execution, and the Ministry of Environment will provide oversight for environmental and social requirements, including for rubble management. In addition, the World Bank will support LEAP with enhanced implementation and supervision support measures with the recruitment of an international lender's engineering firm to conduct enhanced compliance due diligence across the entire framework. This will include oversight of technical, environmental and social, fiduciary aspects and Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT) detection. This mechanism will help ensure LEAP is executed with the highest standards of compliance, integrity and effectiveness.
Yahoo
03-04-2025
- Business
- Yahoo
Ukraine facing $10 billion deficit for reconstruction in 2025
Ukraine is facing a $10 billion "funding gap" for reconstruction projects in 2025, Prime Minister Denys Shmyhal said on April 2. Shmyhal's made the comments on after a meeting of the Steering Committee of the Ukraine Donor Platform. According to Shmyhal, international donors have allocated nearly $7.4 billion for "priority recovery projects" in 2025, leaving a nearly $10 billion deficit to finance reconstruction projects in 2025. "According to the updated RDNA4 (Rapid Damage and Needs Assessment) assessment, Ukraine's total reconstruction cost is estimated at $524 billion over the next decade," Shmyhal said on Telegram. "With the support of our partners, we continue Ukraine's rapid recovery program, focusing on five key priorities: energy, housing, critical and social infrastructure, humanitarian demining, and private sector support." Russia's full-scale war, which recently entered its fourth year, has sparked a deep humanitarian crisis in the country, leaving millions displaced and housing and infrastructure devastated in front-line regions. Western allies and institutions have continue to support Ukraine with international aid since the start of Russia's invasion. Despite this, Ukraine's direct losses continue to increase, reaching $176 billion at the end of December 2024 compared to $152 billion in February last year. Although gaps in funding persist, Shmyhal said that Kyiv's budgetary needs are being met through support of international donors, having given or pledged $39.3 billion to support Ukraine, according to a RDNA4 assessment by the World Bank. "We are already working on securing support for 2026. We are grateful to the G7 countries and the European Commission for supporting the ERA initiative and directing funds to Ukraine from the profits of immobilized Russian assets," Shmyhal concluded. Earlier on April 2, the World Bank announced that it would provide $432 million to Ukraine in funding to assist with the restoration of transport infrastructure damaged during the war. Read also: Ukraine needs $524 billion for recovery, reconstruction after 3 years of Russia's full-scale war We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
Yahoo
25-02-2025
- Business
- Yahoo
Ukraine needs $524 billion for recovery, reconstruction after 3 years of Russia's full-scale war
The cost of reconstruction and recovery in Ukraine after three years of Russia's full-scale invasion will be $524 billion over the next decade, the U.N. reported on Feb. 25, citing data from Ukraine's government, the World Bank, the European Commission, and the U.N. Since the beginning of the full-scale invasion, Russia has been attacking Ukrainian cities and villages daily, destroying residential buildings, critical infrastructure, cultural heritage sites, and sports venues, among other facilities. The required reconstruction costs are 2.8 times higher than Ukraine's nominal GDP for 2024, according to the report. Direct losses in Ukraine reached $176 billion at the end of December 2024 compared to $152 billion in February last year, the Rapid Damage and Needs Assessment (RDNA4) by the World Bank estimated. Housing, transportation, energy, trade and industry, and education sectors have suffered the most from Russian attacks, the report read. Some 13% of Ukraine's total housing stock was damaged or destroyed, affecting over 2.5 million homes. In the energy sector, the number of damaged or destroyed assets, including production, transmission, distribution, and district heating infrastructure, increased by 70%. Donetsk, Kharkiv, Luhansk, Zaporizhzhia, Kherson, and Kyiv oblasts sustained nearly 72% of the total damage. Read also: In negotiations with Russia, Trump is repeating his 'complete disaster' peace deal with Taliban We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
Yahoo
25-02-2025
- Business
- Yahoo
Ukraine needs US$524bn for recovery and reconstruction
Three years after the beginning of Russia's full-scale invasion of Ukraine, the total cost of reconstruction and recovery in Ukraine is estimated at US$524 billion over the next decade, which is 2.8 times the country's nominal GDP for 2024. Source: data from Ukrainian government, World Bank Group, European Commission, UN Details: The fourth Rapid Damage and Needs Assessment (RDNA4), which covers losses from 24 February 2022 to 31 December 2024, shows that direct damage in Ukraine has now reached US$176 billion, up from US$152 billion in the RDNA3 assessment of February 2024. The most affected sectors are housing, transport, energy, trade and industry and education. The current estimate indicates that 13% of the total housing stock has been damaged or destroyed, impacting over 2.5 million households. In the energy sector, the number of damaged or destroyed assets – including power generation, transmission, distribution infrastructure and district heating – has increased by 70% compared to the previous assessment. The oblasts closest to the front line – Donetsk, Kharkiv, Luhansk, Zaporizhzhia, Kherson, and Kyiv oblasts – account for approximately 72% of the total damage. The highest reconstruction and recovery needs are in the housing sector (almost US$84 billion), followed by transport (almost US$78 billion), energy and extractive industries (almost US$68 billion), trade and industry (almost US$64 billion), and agriculture (over US$55 billion). Across all sectors, debris clearance and waste management alone will cost nearly US$13 billion. Background: As of the end of 2023, the estimated cost of Ukraine's post-war recovery had risen by US$75 billion, reaching US$486 billion. Support Ukrainska Pravda on Patreon!
