Ukraine needs $524 billion for post-war reconstruction - World Bank
Photo: Ukraine's losses from the war reached $590 billion (Getty Images)
The World Bank, the European Commission, and the United Nations have raised their estimates for the total cost of rebuilding and restoring Ukraine to $524 billion over the next decade. This is an increase from the previous estimate of $486 billion a year ago, according to the document on the World Bank's website.
The study assesses losses from February 24, 2022, to December 31, 2024.
At the same time, disruptions in economic flows and production, as well as additional costs related to the war, are collectively assessed as economic losses amounting to $588.8 billion. A year ago, this figure was $499.3 billion.
Direct damage to Ukraine from the Russian invasion has now reached $176 billion, which is more than the $152 billion estimate from February 2024. The most affected sectors are housing, transportation, energy, trade, industry, and education.
According to the current estimate, 13% of the total housing stock has been damaged or destroyed, affecting over 2.5 million households.
In the energy sector, there has been a 70% increase in damaged or destroyed assets since the previous report, including power generation, transmission, distribution infrastructure, and centralized heating systems.
Recovery needs
The largest needs are estimated in the housing sector (almost $84 billion, or 16% of the total amount). Following that are transportation (almost $78 billion, or 15%), energy and mining industries (almost $68 billion, or 13%), trade and industry (over $64 billion, or 12%), agriculture (over $55 billion, or 11%), social protection and livelihoods (39 billion dollars, or 7%), and hazardous items management (nearly $30 billion, or 6%).
The report also mentions that the cost of clearing debris alone is estimated at nearly $13 billion.
Earlier, Prime Minister of Ukraine Denys Shmyhal stated that according to the latest estimates, the restoration of Ukraine will cost approximately 500 billion euros.
