Daily Management Review

World Bank: Ukraine needs $486bn to rebuild over the next decade


The World Bank said in a joint statement posted on its website that the UN, EU, Kiev, and others estimate the cost of reconstructing Ukraine over the next ten years to be $486 billion, up from $411 billion last year.

"Following nearly two years of Russia's full-scale invasion into Ukraine, the updated Joint Damage and Needs Assessment released today by the Government of Ukraine, the World Bank, the European Commission and the United Nations now estimates that as of 31 December 2023, the total cost of reconstruction and recovery in Ukraine over the next decade will be $486 billion, up from $411 billion estimated a year ago," the report reads.

Rebuilding housing will take priority over transportation. Industry and trade are ranked third. Debris removal is estimated to cost $11 billion across all industries.

Prior to this, Charles Michel, the head of the European Council, announced that the EU member states decided on February 1st to provide Ukraine with macrofinancial support worth €50 billion.  Subsequently, a formal document was released, which established an annual reporting system by Brussels regarding the macrofinancial aid given to Ukraine.

source: reuters.com