Since 2022, the cost of Ukraine’s post-war reconstruction has risen by 50%.

The estimated cost of Ukraine’s reconstruction, which was estimated at $348.5B in June 2022, climbed to nearly $524B by December 2024. The World Bank conducted this assessment alongside the Ukrainian government, the European Commission, and the UN.

The initial evaluation of the damage inflicted on Ukraine by Russia’s full-scale invasion was presented in June 2022, with estimated damage at $97.4B and reconstruction costs at $348.5B. The second assessment indicated that by February 2023, Ukraine’s direct losses had grown to $134.7B, while reconstruction cost over ten years was projected at $411B.

By the end of 2023, direct losses totaled $152.5B. The most severely impacted sectors included housing infrastructure ($56B), transport ($34B), trade and industry ($16B), as well as agriculture and energy ($10B). The recovery estimate by then reached $486B. By the end of 2024, direct losses had escalated to $176.1B, and the cost of recovery increased to $523.6B.