Thursday, May 12 2022

Analysts in kyiv are assessing the damage and estimating its financial value.

LONDON — The cost of direct damage to Ukrainian infrastructure in the ongoing Russian invasion has reached nearly $63 billion, according to an analysis by the Kyiv School of Economics.

Shocking images and videos have emerged in recent weeks showing only part of the devastation across Ukraine since Russian forces attacked on February 24. concrete shells.

The KSE Institute, an analytical unit of the Kyiv School of Economics in the Ukrainian capital, collected and analyzed data from the “Russia Will Pay” project, launched in collaboration with the Ukrainian President’s Office and the Ukrainian Ministry of Finance. ‘economy.

Through this resource, Ukrainian citizens, government officials and local authorities can confidentially submit reports of loss or damage to physical infrastructure across the country as a result of the war, including roads, buildings residential, business and other facilities. KSE Institute analysts then assess the reported damage and estimate its financial value.

“It aims to collect information on all destroyed facilities as a result of Russia’s war against Ukraine,” the KSE Institute said in a recent statement on the “Russia Will Pay” resource. “The Ukrainian government will use this data as evidence in international courts for Russia to compensate the foreseen damages.”

The latest analysis shows that as of March 24, at least 4,431 residential buildings, 92 factories and warehouses, 378 secondary and higher education establishments, 138 health care institutions, 12 airports, seven thermal power stations and hydroelectric power stations have been damaged. , destroyed or seized in Ukraine since the start of the Russian invasion on February 24, for an estimated total of $62,889,000. Compared to the previous estimate published on March 17, the net growth amounted to 3.5 billion dollars, according to the KSE institute.

Meanwhile, Ukraine’s overall economic losses from the war – taking into account both direct losses calculated from the project and indirect losses, such as lower GDP – range from $543 billion to $600 billion. billion, according to an estimate of the KSE Institute and the Ukrainian Ministry of Economy.

Before updating its calculations, the KSE institute said it had received “detailed data” from the Ukrainian Ministry of Infrastructure on the destruction of its facilities, which allowed analysts to clarify and, in some cases, reduce the assessment of losses.

The KSE Institute said it has improved the methodology for assessing losses resulting from the destruction of residential real estate “based on the World Bank’s experience in analyzing losses in Syria and Iraq, as well as recommendations of the leading Ukrainian investment company Dragon Capital”.

“These calculations are based on the analysis of several thousand public notifications from Ukrainian citizens, the government, local authorities regarding losses and damages throughout the country, as well as indirect assessment methods such as the calculation of the estimated area of ​​war-damaged property in the most affected cities,” the KSE Institute said. “These estimates are not exhaustive: information on much damage and destruction may be missing due to the inability of citizens, local and state authorities to quickly record the damage in every city and town.”

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