Rebuilding Ukraine's economy after Russia's invasion more than a year ago is now expected to cost $411 billion, a new study by the World Bank, United Nations, European Commission, and Ukraine found. The estimate released on March 22 covers the period spanning one year from Russia's invasion and quantifies the direct physical damage to infrastructure and buildings, the impact on people's lives, and the cost to "build back better," the World Bank said. The amount is 2.6 times Ukraine's expected 2022 gross domestic product and is up sharply from an estimate of $349 billion released last September. To read the original story by Reuters, click here.
Ukraine's Recovery And Reconstruction Needs Will Cost $411 Billion, Says World Bank
The estimate quantifies the direct physical damage to infrastructure and buildings as well as other costs caused by Russia's unprovoked invasion of Ukraine.