Rebuilding Ukraine over the next decade will require nearly $588 billion, the UN says

Rebuilding Ukraine over the next decade will require nearly $588 billion (more than €500 billion).

This is stated in an updated joint assessment of damage and needs prepared by the Government of Ukraine, the World Bank, the European Commission, and the United Nations.

The amount is almost three times the country’s projected nominal GDP for 2025, the UN press service reported on Tuesday, February 24.

It is noted that with the support of international partners, the Ukrainian authorities are already planning priority recovery projects for 2026.

These include public investments and key assistance programs—rebuilding destroyed housing, demining, and supporting the economy—totaling more than $15 billion.

In addition, since February 2022, at least $20 billion has already been allocated for urgent repairs of damaged facilities and for recovery programs in housing, energy, education, transport, and other vital services.

“Four years after Russia’s full-scale invasion, the total cost of Ukraine’s recovery and reconstruction is now estimated at nearly $588 billion over the next decade—almost three times the country’s projected nominal GDP for 2025,” said Ukraine’s Deputy Prime Minister Yuliia Svyrydenko.

According to her, despite unprecedented attacks this winter on energy infrastructure and residential buildings across Ukraine, Ukrainians are showing resilience and businesses continue to operate.

“We are still able to recover quickly and move forward. I thank the World Bank, the EU, and the UN teams for supporting our efforts. This assistance makes it possible to urgently repair critical infrastructure and continue systematic recovery, focusing particularly on energy and providing people with housing,” Svyrydenko was quoted as saying by the UN press service.

The report covers the period from February 2022 through December 2025—almost four years of conflict. It says direct damage has already exceeded $195 billion (€166 billion), up from $176 billion a year earlier. Housing, transport, and energy have been hit hardest, especially in frontline regions and major cities.

Energy infrastructure continues to come under intense attack: the number of damaged or destroyed facilities has increased by about 21% compared with the previous assessment. In the transport sector, needs have risen by about 24% due to strikes on railways and ports in 2025. As of the end of 2025, 14% of the country’s housing stock has been damaged or destroyed—more than three million households.

“Despite the massive destruction that continues to harm Ukraine’s people, economy, and infrastructure, the entire country is demonstrating exceptional resilience and determination,” said Anna Bjerde, the World Bank’s Managing Director for Operations.

She said the World Bank Group remains firmly committed to supporting Ukraine’s recovery and helping create jobs, opportunities, and hope in a resilient, modern, and competitive economy.

The authors of the report note that the private sector will play an important role in reconstruction. However, attracting investment will require further reforms—improving the business climate, expanding access to finance, and aligning the economy with the European Union’s environmental and digital standards.

“Russia’s war of aggression continues to have a devastating impact on Ukraine,” said EU Commissioner for Enlargement Marta Kos.

She assured that the EU will continue to play a key role in supporting Ukraine’s recovery by mobilizing private investment through the Ukraine Investment Framework and encouraging reforms under the Ukraine Plan, which will help attract investment and bring the country closer to EU membership.

The largest long-term costs are linked to the transport sector—more than $96 billion. Next come energy (nearly $91 billion), housing (nearly $90 billion), trade and industry (more than $63 billion), and agriculture (more than $55 billion). Nearly $28 billion will be needed for demining and debris removal.

“Recovery efforts are focused on people’s interests. Ukraine’s main resource is its population. The return of refugees, reintegration of veterans, and women’s participation in the labor market will shape economic recovery just as much as investment and infrastructure rebuilding. Recovery must be people-centered and focused on local communities,” said UN Coordinator Matthias Schmale.

The report also emphasizes that the country’s future economic strategy—“The Economy of Ukraine’s Future”—is aimed at macrofinancial stability, governance reforms, private-sector development, infrastructure reconstruction, and investment in human capital, which is expected to strengthen investor confidence and accelerate Ukraine’s rapprochement with the European Union.