The reconstruction and recovery of Ukraine will cost at least $349 billion, according to an estimate by the World Bank, Ukraine’s government and the European Commission.
The assessment only takes into account damage caused between 24 February and 1 June.
It is based on the reconstruction costs of all that was destroyed, but also of Ukraine’s needs during and after the conflict. The consequences on about 20 sectors have been examined, which is a first.
“In a first phase, $17 billion will be needed, including $3.4 billion this year,” Ukrainian Prime Minister Denys Shmyhal said on Friday.
The World Bank will help Kyiv identify priority needs. Over the next three years, some $105 billion will have to be released to restore education and health care.
Heating systems will require urgent repairs with winter approaching.
Finally, resources will have to be invested in locating and defusing abandoned explosives in different parts of the country.
