Ukraine needs $524 billion to recover and rebuild after 3 years of full-scale war with Russia  

AI

Ukraine Faces $524 Billion Reconstruction Bill After 3 Years of War

The has reported 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 collected by the UN, along with Ukraine’s government, the World , the European Commission, and other international organizations.

Since the start of the war, Russian forces have been attacking Ukrainian cities and villages daily, causing significant damage to residential buildings, critical infrastructure, cultural heritage sites, sports venues, and more. The reconstruction costs are 2.8 times higher than Ukraine’s nominal GDP for 2024.

The World Bank estimates that direct losses Ukraine reached $176 billion by the end of 2024, a rise from $152 billion in February last year. The housing, transportation, energy, trade and industry, and sectors have been particularly affected by Russian attacks.

About 13% of Ukraine’s total housing stock has been damaged or destroyed, impacting over 2.5 million homes. In the , the number of damaged or destroyed assets increased by 70%. Donetsk, Kharkiv, Luhansk, Zaporizhzhia, Kherson, and oblasts have sustained nearly % of the total damage.

The proposal comes as the shifts its focus away from and Ukraine. The required reconstruction costs are a significant burden for the country to bear, especially considering that they are 2.8 times higher than Ukraine’s nominal GDP for 2024.

Read More @ kyivindependent.com

Share This Article
Leave a Comment