The estimated cost of reconstruction efforts in Ukraine after Russia's invasion has reached $411 billion, according to an updated assessment by the World Bank.
This amounts to 2.6 times the country’s estimated GDP in 2022. It includes an estimated $135 billion of direct damage — mainly to the housing, transportation, energy, commerce and industry sectors, according to the bank. The majority of damage is concentrated in frontline eastern regions, including Donetsk, Kharkiv and Luhansk.
The updated cost estimate covers damage incurred in the one-year period after Russia’s invasion of Ukraine began on Feb. 24, 2022. It marks an increase from the bank's $349 billion estimate in June 2022.
“The amount of damage and recovery needs currently does not include data on the loss of infrastructure, housing and businesses in the occupied territories,” Ukrainian Prime Minister Denys Shmyhal said, referring to areas controlled by Russia's troops. “When the defense forces release them, we expect that the data will be supplemented, and the Government will immediately begin restoration work in these territories.”
The reconstruction cost is a joint assessment made by Ukraine's government, the World Bank Group, the European Commission and the United Nations.