Ukraine estimated the damage from the Russians' detonation of the Kakhovska HPP at $1.5 billion

Prime Minister of Ukraine, Denys Shmyhal, announced during the Ukraine Reconstruction Conference in London that the overall environmental losses resulting from the destruction of the Kakhovka Hydroelectric Power Station are estimated at $1.5 billion, as reported by Finance.ua.

This amount includes the assessment of damage caused to agriculture, infrastructure, housing, and the cost of restoring the hydroelectric power station itself. Denys Shmyhal also mentioned that the total cost of Ukraine's reconstruction, estimated by the World Bank at $411 billion, will increase following the destruction of the Kakhovka Hydroelectric Power Station by Russian forces.

In its initial assessment, the National Bank of Ukraine stated that the destruction of the Kakhovka Hydroelectric Power Station will have a negative impact on the country's real GDP by 0.2%. The government has decided to allocate 980 million hryvnias for the reconstruction of housing for those affected by the destruction of the hydroelectric power station, initiated by the Ministry of Community Development, Territories, and Infrastructure. Additionally, one-time financial assistance is planned to be provided to those affected by the flooding. Each affected individual will receive 5,000 hryvnias in aid.

It should be noted that the Ukraine Reconstruction Conference, aimed at attracting international investments for Ukraine's recovery after the Russian invasion, commenced in London on June 21. According to Denys Shmyhal, "specific practical results aimed at Ukraine's recovery" were achieved at this event. Within the framework of the conference, new financial aid packages for Ukraine were announced, including:

• The European Union will provide 50 billion euros as a new medium-term support instrument.
• The United Kingdom will implement a three-year support program totaling 3 billion pounds.
• The World Bank will provide 1.76 billion dollars according to the agreement.
• The European Bank for Reconstruction and Development (EBRD) will allocate 600 million euros to energy companies "Ukrgidroenergo," "Ukrenergo," and "Naftogaz."
• The European Investment Bank (EIB) will allocate a new portfolio of projects for recovery amounting to 840 million euros.
• The United States announced assistance in the amount of 1.3 billion dollars.
• Germany will provide an additional 381 million euros in aid.

Shmyhal also emphasized that Ukraine continues to form a business coalition to attract investments to the country. Furthermore, an agreement on joint work on war risk insurance was signed at the conference, with the EU, Norway, Switzerland, and the EBRD already joining the program.