KYIV, 15 February 2024 – The total cost of reconstruction and recovery in Ukraine will be U.S. $486 billion over the next decade, according to the updated joint Rapid Damage and Needs Assessment (RDNA3) released today by the Government of Ukraine, the World Bank Group, the European Commission, and the United Nations (under the technical lead of UNDP).

The estimate is 18% higher than the $411 billion estimated as of 24 February 2023 in RDNA2, and is approximately 2.8 times the estimated nominal GDP of Ukraine for 2023.

In 2024 alone, the Ukrainian authorities estimate the country will need around $16 billion for immediate reconstruction and recovery priorities, with a particular focus on supporting and mobilizing the private sector, alongside restoring social infrastructure and services, energy, transport, and housing.

UNDP Resident Representative in Ukraine Jaco Cilliers said that most of the funds were needed in the war-affected communities in southern and eastern oblasts of the country. 

“For example, the damage to the municipal sector is worth a staggering $4.8 billion, of which 42% is damage to district heating,” Cilliers said. 

“Support is required locally on the ground to stabilize and jump-start local recovery, but also at the national level through the use of innovative financial instruments to decrease risks and increase the social impact of private investments in the context of the ongoing war.”

Finally, it is estimated that humanitarian mine action will require $34.6 billion, among other things to return land to productive use and to increase economic activity. This remains both an immediate and a long-term priority for Ukraine, Cilliers added.

Download the full report here. 

Media enquiries: Yuliia Samus, Head of Communications, UNDP in Ukraine; e-mail: yuliia.samus@undp.org