$486 Billion: Rising Costs of Ukraine's Reconstruction

Written by Camilla Jessen

Feb.15 - 2024 2:08 PM CET

The expense of rebuilding Ukraine post-conflict has surged to $486 billion

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By the end of 2023, the cost for rebuilding Ukraine after the war rose from $75 billion to a total of $486 billion, based on the latest Rapid Damage and Recovery Needs Assessment (RDNA3).

This report is a collaborative effort by the Ukrainian government, the World Bank Group, the European Commission, and the United Nations, covering damages from February 24, 2022, to December 31, 2023.

Ukraine needs about $15 billion for recovery in 2024, but it's facing a shortfall.

Only $5.5 billion has been raised from international partners and the Ukrainian government, leaving a funding gap of $9.5 billion.

According to the assessment, the most affected sectors are housing, transport, industry, energy, and agriculture.

In terms of geography, the majority of the destruction is concentrated in the Donetsk, Kharkiv, Luhansk, Zaporizhzhia, Kherson, and Kyiv regions.

The direct damage from the full-scale war is nearly $152 billion.

In the coming ten years, Ukraine will require approximately $9 billion to rehabilitate its cultural landmarks and revitalize the tourism sector.

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