The European Commission and the World Bank estimate the cost of Ukraine’s reconstruction at $349 billion

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The current cost of reconstruction and recovery in Ukraine amounts to at least $349 billion, the Ukrainian government, the European Commission and the World Bank said in a joint assessment published today on the Commission’s website European, reports News.Az citing Ukrinform.

“In a joint assessment released today, the Government of Ukraine, the European Commission and the World Bank, in cooperation with partners, estimate that the current cost of reconstruction and recovery in Ukraine amounts to $349 billion ( 349 billion euros). This figure is expected to increase in the coming months as the war continues,” the press release read.

The Rapid Damage and Needs Assessment (RDNA) presents the first comprehensive assessment of the impacts of war in twenty different sectors after the start of military operations. It also sets out financing needs for resilient, inclusive and sustainable recovery and reconstruction and provides a roadmap for planning.

The assessment covers the impacts of the war suffered between February 24 and June 1, 2022 and found that the physical damage of the war reached more than 97 billion US dollars (97 billion euros). It was particularly high in the housing, transport, commerce and industry sectors. The destruction was concentrated in the regions of Chernihiv, Donetsk, Luhansk, Kharkiv, Kyiv and Zaporizhzhia.

RDNA results are preliminary, and damages and requirements should be considered minimums. The report revealed that the recovery and reconstruction needs in the social, productive and infrastructure sectors amount to 349 billion US dollars (349 billion euros), more than 1.5 times the GDP of the Ukraine in 2021.

News.Az

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