• 22/04/2024 08:03

Ukraine's recovery estimate for the year rose to $486 billion – World Bank

The total cost of recovery and reconstruction in Ukraine as of December 31, 2023 is $486 billion over the next decade. The Government of Ukraine, the World Bank Group, the European Commission and the UN have released the results of the updated “Rapid Damage and Recovery Needs Assessment (RDNA3).”

Ukraine's recovery estimate for the year rose to $486 billion - World Bank

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Recovery assessment

Ukrainian authorities estimate that in 2024 alone the country will need about $15 billion for urgent priority recovery and recovery measures.

RDNA3 notes that while about $5.5 billion of these funding needs have already been met by international partners of Ukraine, and from its own budget, about $9.5 billion remains unsupported by financing.

The RDNA3 assessment shows that direct damage in Ukraine amounted to almost $152 billion, with the most affected sectors being housing, transport, trade and industry, energy and agriculture.

The greatest damage is concentrated in Donetsk, Kharkiv, Luhansk, Zaporozhye, Kherson and Kiev regions – those areas where the greatest damage was recorded in the preliminary assessment.

Read: 500 billion euros for the restoration of Ukraine: who will help us and how rise from the ruins

In Ukraine, 10% of the housing stock has been damaged or destroyed, leading to the prolonged displacement of Ukrainians from their communities.

The destruction of the Kakhovka hydroelectric dam and hydroelectric power station in June 2023 led to significant negative consequences for the environment and agriculture, and also exacerbated the problems that people were already facing in trying to ensure access to housing, water, food and medical services.

The total cost of recovery and recovery, reflected in the $486 billion figure, includes the measures needed to develop a modern, low-carbon, inclusive and climate-resilient future.

The greatest needs for recovery and recovery are estimated at residential sector (17% of the total), followed by transport (15%), trade and industry (14%), agriculture (12%), energy (10%), social protection and livelihoods (9%) ; explosive ordnance management (7%).

The total cost for all sectors to clean up and manage debris (and, if necessary, demolition) was almost $11 billion.

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