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Ukraine Sees Rebuild Costing $600 Billion as It Seeks Global Aid

  • Prime minister Shmyhal asks nations to donate 10% of IMF SDRs
  • IMF, World Bank urges countries to help Ukraine with grants
A damaged market after recent shelling in the northern outskirts of Kharkiv, Ukraine on April 21.

A damaged market after recent shelling in the northern outskirts of Kharkiv, Ukraine on April 21.

Photographer: Sergey Bobok/AFP/Getty Images

Rebuilding Ukraine following Russia’s invasion will cost $600 billion, the nation’s prime minister said, calling on members of the International Monetary Fund to donate 10% of their reserve assets received from the institution to support the effort.

In the short term, Ukraine needs $4 billion to $5 billion per month in funding, Denys Shmyhal said at a ministerial roundtable Thursday organized to support the country at the International Monetary Fund and World Bank spring meetings in Washington. In the longer term, the nation needs a recovery strategy similar to the Marshall Plan for Europe after World War II.