Ukraine’s Reconstruction to Cost €500 Billion

A new joint report released Monday by the government of Ukraine, the World Bank, the European Union, and the United Nations estimates that rebuilding Ukraine after the war will cost more than €500 billion ($588 billion) over the next decade.

According to the report, “the cost of reconstruction continues to rise and is now estimated at approximately $588 billion over ten years, equivalent to three times Ukraine’s total gross domestic product in 2025.”

The findings highlight the massive financial burden facing Ukraine and its international partners as the country seeks to recover from the widespread destruction caused by the war, which began in February 2022.

The report states that total losses have reached nearly $200 billion from the start of the war through the end of December last year. The damage spans critical infrastructure, residential areas, transportation networks, and energy facilities, reflecting the scale of disruption across the country.

Officials emphasized that most of the funding required for reconstruction will need to be directed toward housing, transportation, and energy sectors. 

Rebuilding homes is considered a top priority, as millions of Ukrainians have been displaced or have seen their properties damaged or destroyed. Restoring transportation systems is also vital to reconnect communities and revive economic activity, while investment in energy infrastructure is essential to ensure a stable power supply and long-term resilience.

The report underscores that reconstruction will be a long-term process requiring sustained international cooperation, financial assistance, and structural reforms. 

With rebuilding costs equivalent to three times the country’s projected GDP for 2025, Ukraine’s recovery effort is expected to remain one of the largest and most complex reconstruction projects in modern history.

As global attention continues to focus on the war and its aftermath, the scale of funding outlined in this report signals the significant commitment that will be required from international donors, financial institutions, and partner governments to support Ukraine’s recovery and economic stability in the years ahead.