The reconstruction of Ukraine will cost at least 500 billion euros, according to Anna Bjerde, vice president of the World Bank.

Die Presse: In the war in Ukraine, of course, the focus is on human suffering caused by military conflicts. But people there are also suffering because of the economic consequences of the war. Have you been there recently, what is the situation like?

Anna Bjerde: The World Bank has always said that the humanitarian consequences of this war are catastrophic. I will give some numbers: by the end of 2022, eight million people in Ukraine will live in poverty. This increases the poverty rate from two to 25 percent of the population. There is a radical negative impact on the incomes and living standards of people in Ukraine.

Now Russia is destroying Ukraine’s energy infrastructure. Therefore, providing people with electricity and water is a big challenge.