After almost two years of Russia’s full-scale invasion of Ukraine, an updated joint Rapid Damage and Needs Assessment (RDNA3) released by the Government of Ukraine, the World Bank Group, the European Commission, and the United Nations currently estimates that as of 31 December 2023 the total cost of reconstruction and recovery in Ukraine is $486 billion over the next decade, up from $411 billion estimated one year ago.

In 2024 alone, 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. The RDNA3 highlights 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.