Unbelievable damage
That’s how many billions Ukraine needs to rebuild
February 15, 2024, 10:07 a.m
Russia has been attacking Ukraine for almost two years, tens of thousands of people have already died and large parts of the country are in ruins. The costs for the economy are immense. Kiev, the World Bank and the UN are now calculating how much it will cost to rebuild Ukraine.
The war in Ukraine has caused direct damage of at least $152 billion (around €142 billion) in almost two years. This emerges from a joint report by the Ukrainian government, the World Bank and the United Nations. The areas most affected are housing (37 percent), transport (22 percent), trade and industry (ten percent), agriculture and energy (seven percent each). As of December 31, 2023, the costs of reconstruction and recovery in Ukraine, which was attacked by Russia, are estimated at at least 486 billion US dollars (around 453 billion euros) over the next ten years.
The period from the start of the war on February 24, 2022 to December 31, 2023 was used as the basis for the calculations. The financial losses caused by the war during this period are estimated at 499 billion US dollars (around 465 billion euros). The report also identifies a funding gap of $9.5 billion (around €8.8 billion) in 2024 to “address immediate reconstruction and recovery priorities.”
Because of the small shifts on the front, the direct damage has not increased significantly compared to around a year ago (135 billion US dollars), it is said. However, the damage to Ukraine remained immense. “In 2023, there were regular, intensive attacks on infrastructure, especially in the southeast, extending across many regions,” the authors write.
Around 8,400 kilometers of motorways, expressways and other national roads, more than 200 train stations and 150 railway bridges were damaged. As of December 2023, an estimated 5.9 million people are registered as refugees within Europe, and as of October 2023, 3.7 million people are internally displaced within Ukraine.