Two years after the devastating invasion by Russia, the cost of rebuilding Ukraine has reached a staggering $486 billion over the next decade, according to a joint assessment by the Ukrainian government, the World Bank, the European Commission, and the United Nations. This figure is significantly higher than the $411 billion estimated last year, highlighting the immense and ongoing damage inflicted on the country and its people.
In the last year, Ukraine’s needs for reconstruction and recovery from Russia’s invasion have increased by 18% to $486 billion.
Learn more in our new #RDNA3 report: https://t.co/AocWlA9ene pic.twitter.com/Tfa9OYddCV
— World Bank (@WorldBank) February 23, 2024
Key Points:
- $15 billion is urgently needed in 2024 for immediate reconstruction and recovery.
- Housing, transport, and agriculture are the most affected sectors.
- 10% of Ukraine’s housing stock is damaged or destroyed.
- The EU and international community are called upon to contribute the remaining $9.5 billion in unfunded needs.
- Ukraine seeks confiscation of frozen Russian assets to support reconstruction.
- Focus on inclusive, green, and resilient reconstruction.
Challenges and Opportunities:
While the cost is daunting, the report also acknowledges the resilience and dedication of the Ukrainian people, who have already begun repairs and rebuilding efforts. The assessment outlines critical investments needed for both short-term recovery and long-term reconstruction, emphasizing the importance of:
- Mobilizing private sector involvement
- Inclusive and green recovery
- Human capital investment
- Strengthening institutional capacity
Call to Action:
The RDNA3 report serves as a stark reminder of the immense task ahead and a call to action for the international community. Urgent funding is needed to support Ukraine’s recovery and reconstruction efforts. Additionally, reforms and policies are crucial to ensure an inclusive, sustainable, and resilient future for the country.
Here are some ways you can help:
- Donate to organizations supporting Ukraine’s reconstruction.
- Advocate for your government to provide financial and technical assistance.
- Raise awareness about the ongoing crisis and the need for support.
Together, we can help Ukraine rebuild and emerge stronger than ever.