In Latest Assessment, World Bank Says It Will Take 10 Years To Rebuild Ukraine

A new assessment by the World Bank says reconstruction and recovery efforts in Ukraine following Russia’s invasion will take 10 years.

The joint assessment released on Thursday by the World Bank, the Ukraine government, the European Commission, and the United Nations (UN), noted that the cost of rebuilding the country has grown to $411 billion.

Russia invaded Ukraine on February 24, 2022.

The report said the reconstruction cost estimate covers the one-year period from Russia’s invasion and combines both needs for public and private funds.

The cost includes an estimated $135 billion of direct damage – mainly to the housing, transportation, energy, commerce, and industry sectors.

The estimated cost of repair is more than double the country’s GDP in 2022

In June 2022, the World Bank said it would cost $349 billion to rebuild Ukraine.