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World Bank raises Ukraine's reconstruction and recovery needs estimate by 8% to $524 billion

Residential building destroyed during Russian shelling of Kherson in March 8 2024 (Photo by Destroyed Buildings via Ukraine Media Center)

The total cost of reconstruction and recovery in Ukraine as of Dec 31, 2024 stood at $524 billion over the next decade, about 2.8 times the country's estimated GDP for 2024, the World Bank, the European Commission, the United Nations, and Ukraine's government said on Tuesday in an updated Rapid Damage and Needs Assessment (RDNA).

The figure in the report, compiled by the World Bank, the European Commission, the United Nations, and Ukraine's government, represents an almost 8% increase from the assessment a year ago that placed the estimate at $486 billion.

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