In an effort to assist locals in rebuilding their homes after the devastating conflict with Russia, the Ukrainian government has allocated significant funds under the eRecovery program. A total of Hr.4.5 billion ($1.1 billion) has been utilized for structural repairs, while Hr.5.3 billion ($1.3 billion) has been directed towards compensation for destroyed houses.
The eRecovery program, initiated in response to Russia’s invasion of Ukraine in February 2022, allows property owners to apply for reparations and obtain funds from the government to either rebuild their damaged properties or purchase a new home. Since its launch in May 2023, the program has enabled thousands of affected individuals to access financial support for their housing needs.
Under the program, different categories of financial assistance have been defined based on the level of damage sustained. As of May 2, a total of 87,530 applications had been received, with Hr.4.5 billion issued for repairs and Hr.5.3 billion allocated for fully destroyed houses.
The path to Ukraine’s restoration post-war is estimated to require $486 billion, with plans to utilize frozen Russian assets to offset the costs. The G-7 nations are expected to discuss the mechanism for using these funds at an upcoming summit in June.
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