Ukraine’s Reconstruction Cost Estimated at $524 Billion Over 10 Years
The United Nations has estimated that Ukraine will need $524 billion over the next decade to rebuild and recover from three years of Russia’s full-scale invasion. This estimate comes from data provided by Ukraine’s government, the World Bank, the European Commission, and the UN.
Russia’s daily attacks on Ukrainian cities and villages have caused widespread destruction, including damaged residential buildings, critical infrastructure, cultural heritage sites, and sports venues. The reconstruction costs are 2.8 times higher than Ukraine’s nominal GDP for 2024.
The direct losses in Ukraine have reached $176 billion by December 2024, up from $152 billion in February last year. The most affected sectors include housing, transportation, energy, trade, industry, and education.
About 13% of Ukraine’s total housing stock was damaged or destroyed, affecting over 2.5 million homes. In the energy sector, the number of damaged or destroyed assets increased by 70%. Six out of seven regions in Ukraine have suffered significant damage, with Donetsk, Kharkiv, Luhansk, Zaporizhzhia, Kherson, and Kyiv being the most affected.
This proposal comes as the US shifts its focus away from Europe and Ukraine. The US has sent signals that it will no longer provide security guarantees to the continent in the future.
Ukraine Needs $524 Billion for Recovery and Reconstruction After 3 Years of Russia’s Full-Scale War
The required reconstruction costs are 2.8 times higher than Ukraine’s nominal GDP for 2024, according to a new report.
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