Got 5 minutes?We would love to hear from you

Take our survey
News Feed

World Bank: Ukraine’s post-war reconstruction to cost up to 600 billion euros

1 min read

World Bank Vice President for Europe and Central Asia Anna Bjerde told Austrian newspaper Die Press that the cost of rebuilding Ukraine’s infrastructure damaged or completely destroyed by Russia since Feb. 24 will cost from 500 to 600 billion euros ($527 billion to $632 billion).

“The humanitarian consequences of this war are catastrophic,” Bjerde said. “Without infrastructure, there is no economy, no tax revenue for the Ukrainian state.”

The World Bank’s estimate of the cost of Ukraine’s post-war recovery has increased by over 200 billion euros since June when the forecast was set at 350 billion euros.

Bjerde also said the World Bank has downgraded Ukraine’s GDP decrease from 35% to around 40%, given that Russia has actively targeted Ukraine’s energy infrastructure in the fall.

“It’s a very worrying situation,” Bjerde said.

Avatar
The Kyiv Independent news desk

We are the news team of the Kyiv Independent. We are here to make sure our readers get quick, essential updates about the events in Ukraine. Feel free to contact us via email with feedback and news alerts.

Read more
News Feed
 (Updated:  )

Russia has previously reported multiple drone attacks against Moscow, though the capital is well-defended against aerial threats. Rarely has the Russian capital sustained damage to civilian infrastructure despite an increase in Ukrainian attacks over the last several months.

Kyiv Mayor Vitali Klitschko reported explosions and urged residents to take shelter as Russia launched groups of drones at the capital late in the evening of May 2.

Show More