Ukraine will need over $500 billion to repair the damage resulting from the Russian invasion, which has entered its fourth year, according to a joint assessment published Tuesday.
“The total cost of reconstruction and recovery in Ukraine is $524 billion over the next decade,” said a statement published by Ukraine, the World Bank Group, the European Commission, and the United Nations.
This number is “approximately 2.8 times the estimated nominal GDP of Ukraine for 2024,” a statement read.
The survey covered destruction that occurred between the start of the invasion in February 2022 until December 2024.
It found that 13 percent of the country’s housing stock has been damaged or destroyed, which affected over 2.5 million households.
Frontline areas in the east, north and south sustained about three-quarters of the damage, the survey said.
“The assessment highlights the extraordinary damage Russia has inflicted on Ukraine,” EU Commissioner for Enlargement Marta Kos was quoted as saying.
The previous survey published in February 2024 said Ukraine needed $486 billion over the next decade.
The recovery programme has so fair focused on repairing energy infrastructure and houses, as Russia keeps striking the war-torn country’s power grid, regularly plunging hundreds of thousands into temporary blackouts.