A Rapid Damage and Needs Assessment commissioned by the Ukrainian Government, the World Bank Group, the European Commission and the UN estimates that the total cost of Ukrainian reconstruction and recovery from war damage up to the end of 2024 will be $524 billion (€506 billion) over the next decade, which is approximately 2.8 times the estimated nominal GDP of Ukraine for 2024.

This raises the question of who will pay, a question we address on another page.

Direct damage in Ukraine has now reached $176 billion (€170 billion). Thirteen per cent of all housing stock in the country has been damaged or destroyed, affecting more than 2.5 million households. The energy sector has also experienced a 70 per cent increase in damage or destroyed assets, including power generation, transmission, distribution infrastructure, and district heating.

Reviving commerce and industry will require over $64 billion (€62 billion), and agriculture over $55 billion (€53 billion).

The UN Humanitarian Coordinator in Ukraine, Matthias Schmale, noted that “the true cost of war is measured in human lives and livelihoods,” and the international community must help to create more opportunities for Ukrainians to rebuild their lives with dignity.

“This means investing in dignified jobs, education, healthcare, and prioritizing the inclusion of vulnerable groups among women and girls, children, displaced people, Roma communities, war veterans and persons with disabilities,” he said.

“The Assessment highlights the extraordinary damage Russia has inflicted on Ukraine,” said EU Commissioner for Enlargement Marta Kos. “The EU is already supporting Ukraine’s reconstruction and recovery by mobilizing more private investments through the Ukraine Investment Framework, and by helping the country integrate deeper into the EU Single Market. This will be a pillar of Ukraine’s recovery and create new opportunities for both Ukrainian and European businesses.”

More information from UN News and the World Bank.