RDNA3 updates Ukraine’s recovery and reconstruction needs to $486 billion over next decade, up $75 billion from last year's estimate
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As of Dec. 31, 2023 the total cost of reconstruction and recovery in Ukraine is estimated at $486 billion over the next decade, according to an updated joint Rapid Damage and Needs Assessment (RDNA3) released on Feb. 15 by the Ukrainian Government, the World Bank Group, the European Commission, and the United Nations.
This figure is up from the $411 billion estimated one year ago.
Ukrainian authorities estimate the country will need around $15 billion for immediate reconstruction and recovery priorities at both the national and community level, with a particular focus on supporting and mobilizing the private sector alongside restoration of housing, soft infrastructure and services, energy, and transport.
RDNA3 notes that while some $5.5 billion of this funding has been secured, from both Ukraine’s international partners and its own resources, about $9.5 billion is currently unfunded.
Western support for Ukraine far exceeds the U.S. plan to rebuild Western Europe after World War II, known as the Marshall Plan, said European Bank for Reconstruction and Development (EBRD) President, Odile Renaud-Basso, according to a Feb. 13 Politico report.
Ukraine's GDP is expected to grow by 4.6% in 2024, the press service of the Economic Ministry reported on Jan. 12.
Ukraine will require financial assistance amounting to around $42 billion in 2024, including official donor support of roughly $32 billion, the International Monetary Fund’s (IMF) Communications Director Julie Kozack said in a Jan. 11 press briefing.
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