The European Commission, the World Bank and Kyiv estimated the restoration of Ukraine at $349 billion

The European Commission (EC), the World Bank and the government of Ukraine have estimated the cost of rebuilding the country at $349 billion, should from a joint statement published on the EC website.

The report said that this amount is more than 1.5 times the GDP of Ukraine in 2021. And the figure could rise as hostilities continue, and the estimate is preliminary, reflecting the minimum needs. It covers the period from February 24 to June 1, physical damage is estimated at $97 billion. The housing sector, transport, trade and industry were especially affected, the report said. The destruction is concentrated in the Chernihiv, Donetsk, Luhansk, Kharkiv, Kyiv and Zaporozhye regions.

The statement also said that over the next 36 months, Ukraine will need $105 billion to meet urgent needs, such as restoring education and healthcare, preparing for the heating season, supporting agriculture, repairing key transport routes, etc.

“The EU cannot match Ukraine’s sacrifice, but we are mobilizing all of our tools to meet the most pressing needs, including housing for internally displaced persons and repairing critical infrastructure,” European Commission President Ursula von der Leyen commented on the assessment. .

At the end of August, Ukrainian President Volodymyr Zelensky declaredthat the restoration of the country will cost approximately $600-$800 billion. He specified that the exact amount that will be required for the restoration of the country will be known only after the end of hostilities.

On August 25, Ukraine signed an agreement with the UK to provide assistance in the restoration of infrastructure. Kyiv signed a similar agreement with Ankara.