Ukraine reconstruction costs cross half-trillion-dollar mark: Study

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The estimated cost of reconstructing Ukraine three years after Russia’s full-scale invasion has risen to more than half a trillion US dollars, according to a new report.

The cost of rebuilding the country and reviving its economy stands at $524bn currently, predicted a study by the World Bank, United Nations, European Commission (EC) and Ukrainian government that was released on Feb 25. The total is nearly three times Ukraine’s expected 2024 economic output.

The estimate marks an increase of more than 7 percent compared with the institutions’ last report, which pitched the cost at $486bn a year ago.

The data, which covers damages incurred from the date of Russia’s full-scale invasion on February 24, 2022 to December 31, 2024, quantified the direct physical damage to buildings and other infrastructure, the effect on people’s lives and livelihoods, and the cost to “build back better”, the institutions said in a joint press release.

Housing, transport, energy, commerce and education were the most affected sectors. This included a 70 percent increase in damages to Ukraine’s energy infrastructure from Russian attacks.