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Bisnis.comJAKARTA – The group of G7 countries (United States, Great Britain, France, Germany, Italy, Canada and Japan) have agreed to increase aid to Ukraine to US$44 billion or the equivalent of Rs 653.1 trillion in 2024 and early 2024.

The decision was announced in a meeting statement issued on May 13. The financial assistance will enable the International Monetary Fund (IMF) to approve $15.6 billion in support for Ukraine over four years.

Such financial support will help Ukraine maintain its government functions, continue to provide basic services, carry out repairs to its most critical infrastructure and stabilize its economy, the statement said.

“We call for an immediate end to Russia’s illegal war against Ukraine, which will remove one of the greatest uncertainties about the global economic outlook,” the statement said.

According to a report by Bloomberg, the World Bank has increased its assessment of Ukraine’s recovery and reconstruction needs to at least $411 billion based on the damage caused in the first year of the all-out war against Russia.

This figure is equivalent to 2.6 times Ukraine’s projected gross domestic product in 2022.

The total damage in Ukraine caused by the Russian war reached almost 143.8 billion US dollars.

This figure represents an increase of $6 billion at the end of January, when KSE estimated in a report that the large-scale invasion of Russia had caused more than $138 billion in damage.

Earlier in April, Prime Minister Denys Shmyhal said Ukraine would need US$37 billion for demining work.

According to him, most Ukrainian land remains unusable due to mines and unexploded ordnance.

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