Ukraine Reconstruction to Cost Over $500 Billion After Russian Invasion Damage

Ukraine will need more than $500,000 million to repair the damage derived from the Russian invasion, which has entered its fourth year, according to a joint evaluation published on Tuesday. This staggering figure is approximately 2.8 times the estimated nominal GDP of Ukraine by 2024. The study, which covered the destruction that occurred between the beginning of the Russian invasion in February 2022 and December 2024, highlights the extensive devastation caused by the war.

Millionaire Investment Needed for Rebuilding

The damage is widespread, with 13% of the country’s homes damaged or destroyed, affecting over 2.5 million homes. Notably, three-quarters of the damages occurred in the border areas of the east, north, and south of the country. The sheer scale of the destruction underscores the urgent need for significant investment to rebuild and restore the affected areas. As Marta Kos, an extension commissioner of the European Union, pointed out, “The evaluation highlights the extraordinary damage that Russia has inflicted on Ukraine.”

Previous estimates had already suggested a hefty reconstruction cost, with a study published in February 2024 putting the expense at $486,000 million over the next decade. So far, the recovery program has focused on repairing energy infrastructure and homes, which is crucial given that Russia continues to attack the country’s already fragile electricity grid, regularly leaving hundreds of thousands of people without power. The situation remains dire, and the international community will likely need to come together to support Ukraine’s rebuilding efforts.

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