New report: Reconstruction and recovery in Ukraine to cost €383 billion

The cost of reconstruction and recovery in Ukraine has grown to an estimated US $411 billion (equivalent of €383 billion), according to the new joint Ukraine Recovery and Reconstruction Needs Assessment released by the European Commission, the Government of Ukraine, the World Bank Group, and the United Nations. 

The estimate covers the one-year period from Russia’s invasion of Ukraine on February 24, 2022, to the first anniversary of the war on February 24, 2023. The cost of reconstruction and recovery is expected to stretch over 10 years and combines both needs for public and private funds.

This second Rapid Damage and Needs Assessment (RDNA2) provides a comprehensive evaluation of war impacts across twenty different sectors. It quantifies the direct physical damage to infrastructure and buildings and describes the impact on people’s lives and livelihoods.

“Energy infrastructure, housing, critical infrastructure, economy and humanitarian demining are our five priorities for this year. Part of the reconstruction work has already been done, and I am grateful to our partners from the EU, the USA, and the World Bank,” said Ukrainian Prime Minister Denys Shmyhal. He added that the assessment does not currently include data on the loss of infrastructure, housing and businesses in the occupied territories. 

European Commissioner for Neighbourhood and Enlargement Olivér Várhelyi said the Rapid Needs Assessment will help donors to channel funds to the priority sectors on the ground. “It is important to ensure fast recovery and basic services for the population, namely energy, education and health infrastructure and housing. The EU will continue supporting Ukraine, now a candidate country, with all its tools and instruments at its disposal,” said Varhelyi.

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Press release

Main findings of ‘Rapid Damage and Needs Assessment 2′ in questions and answers