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World Bank Estimates Cost of Rebuilding Ukraine at $411 Billion Over Next Decade

The World Bank puts the cost of rebuilding war-torn Ukraine at $411 billion.

A World Bank report released on Wednesday put the cost of Ukraine recovering and rebuilding from the Russian invasion at $411 billion over the next decade, with the cost of cleaning up the wreckage alone at $5 billion.

The report details some of Russia’s casualties in the Ukraine war: at least 9,655 civilians were confirmed dead, including 461 children. Nearly 2 million homes were damaged, over a fifth of public health facilities were destroyed, and 650 ambulances were damaged or robbed.

The World Bank calculates the direct damage to buildings and infrastructure at $135 billion, not including broader economic damage.

Anna Bjerde, the World Bank’s vice president for Europe and Central Asia, said in a call with reporters that the damage would have been worse without the vigorous defence of the Ukrainian army. She said the worst damage was limited to the frontline areas of Donetsk, Kharkiv, Luhansk and Kherson.

The World Bank says the Russian invasion has undermined 15 years of economic progress in Ukraine, slashing Ukraine’s gross domestic product by 29% and impoverishing 1.7 million Ukrainians.

The Ukrainian government, the World Bank Group, the European Commission, and the United Nations jointly carried out the assessment. These findings will guide financing planning and ongoing recovery efforts in Ukraine.

Even as the bombs fall and the fighting continues, the Ukrainian government, private industry, and recovery efforts must continue, the report said. It said delaying reconstruction and support risked falling into a situation of low or no growth, with huge social challenges after the war.

Ukraine’s energy sector has suffered a recent surge in losses due to Russia’s targeted attacks on power grids and other energy centres during the winter. The World Bank says total losses in the energy sector are now five times what they were last summer.

In the long run, officials estimate that the multiple ways the war disrupted education alone have cost the Ukrainian economy trillions of dollars. These include more than 2 million children estimated to have fled the country.

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