War-torn Ukraine will need $524 billion to rebuild. That would be three times Ukraine's expected economic output by 2024, according to a study by the World Bank, the United Nations, the European Commission and the Ukrainian government.
Compared to a year ago, costs have increased by more than seven percent. The most affected sectors are housing, transport, energy, trade and education. “Over the past year, Ukraine’s reconstruction needs have continued to grow due to the ongoing Russian attacks,” Ukrainian Prime Minister Denys Shmyhal said, writes A2 CNN.
The study shows a 70 percent increase in damaged or destroyed assets in the energy sector since the previous assessment a year ago. Electricity generation, transmission, distribution infrastructure and district heating are particularly affected.
The Ukrainian government, with the support of donors, has allocated $7.37 billion to meet priority needs by 2025. However, according to the statement, there is still a funding gap of almost $10 billion. The latest assessment, which used a universal method for assessing damage and needs, found that direct damage in Ukraine from Russian attacks increased from $152 billion in February 2024 to $176 billion. About 13 percent of Ukraine’s total housing stock was damaged or destroyed – affecting more than 2.5 million households.
The study reportedly determines the direct physical damage to buildings and other infrastructure, the impact on people's lives and livelihoods. It also included the costs for "better reconstruction," he said. (A2 Televizion)
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