2024-02-16 09:20:34
Rebuilding Ukraine’s economy from the damage inflicted during the Russian military invasion is expected to cost $486 billion. This is according to data from a new study by the World Bank, the United Nations (UN), the European Commission and the Ukrainian government, published today and cited by Reuters.
The study presents an assessment of the damage caused from the start of the Russian invasion of Ukraine on 24 February 2022 to 31 December 2023. It assesses not only the damage to buildings and other infrastructure, but also the impact of the war on people’s lives and their livelihood, as well as the cost of their recovery.
The damage estimate in Ukraine has been raised to $486 billion from the $411 billion projected in the World Bank’s March 2023 study.
Most of the spending is needed to restore Ukraine’s housing stock ($80 billion), followed by its transport infrastructure ($74 billion), as well as its industry and trade network ($67.5 billion) .
Direct damage from Russian military aggression amounts to 152 billion dollars, BTA reports. They are mainly concentrated in Kharkiv, Luhansk, Donetsk, Zaporizhia, Kherson and Kyiv regions, the report states.