Ukraine Faces $11 Billion Annual Losses From Landmines
Ukraine Faces $11 Billion Annual Losses From Landmines
Ukraine Faces $11 Billion Annual Losses From Landmines
News summary

Ukraine incurs annual economic losses exceeding $11 billion due to landmines left by Russia's invasion, equivalent to approximately 5.6% of its GDP in 2021. The report from the Tony Blair Institute and Ukraine's Ministry of Economy highlights that these mines have created no-go areas, significantly reducing agricultural exports and local tax revenues, with estimates showing a $1.1 billion shortfall in local tax revenues and an $8.9 billion reduction in export value. The most affected regions include Chernihiv, Sumy, Mykolayiv, and Kharkiv, which have lost over 20% of their regional GDP. The World Bank estimates that clearing all mined territories will require around $34.6 billion, a cost that could be recouped within three and a half years after demining is completed. Tony Blair emphasized the necessity of global support for Ukraine's demining efforts, linking it to broader food security issues. As Ukraine continues to navigate its post-war recovery, the need for effective and innovative financing solutions for demining is urgent.

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