Ukraine’s Recovery Cost Estimated at $588 Billion in New World Bank Report
Дмитро Ковальський | Dmytro Kovalskyi
2 min read
February 23, 2026 — The World Bank, in partnership with the Government of Ukraine, the European Commission, and the UN, has released the fifth Rapid Damage and Needs Assessment (RDNA5) for Ukraine. The document covers the period from the start of the full-scale invasion to December 2025. We present the key findings, some details, and photos* from the event.
Ukrainian Prime Minister Yulia Svyrydenko announced that according to the report, the total recovery needs of the country amount to $588 billion (approximately £464 billion / CA$813 billion)**. This estimate does not include destruction caused in January-February 2026.
Will the Funds Be Found? The Role of Business
As reported on the government portal, damages in 2025 alone reached $64 billion (approx. £50.5B / CA$88.5B)**. The pace of destruction more than doubled compared to the previous period. The heaviest losses were recorded in the housing sector, transport infrastructure, and energy.
“This report provides internationally recognized damage assessments, which can be used both in recovery plans and in legal claims against the aggressor state,”
— Svyrydenko stated during the report’s presentation.
From Recovery to Transformation
A crucial signal for businesses: approximately 40% of the total recovery needs could be financed by the private sector. This means that Ukraine’s reconstruction will not only be a task for the state and international partners but also a massive investment opportunity. For international investors, this represents a potential market of over $235 billion in infrastructure, energy, and manufacturing projects, aligning with ESG goals and the “build back better” principles familiar to US and UK funds.
The next step is developing the “Economy of the Future” model. The Government, together with the World Bank, is working on long-term national development planning, which includes concrete reforms, funding sources, and synchronizing efforts with partners.
“Ukraine’s recovery is a shared responsibility of the democratic world. Our task is not only to rebuild what was destroyed but also to create a more resilient economy and ensure the long-term viability of the state. I thank all partners supporting Ukraine,”
— the head of government emphasized.
What’s Next
The RDNA5 report is more than just a record of losses; it’s a roadmap. $588 billion represents a scope of work for years to come. If viewed not just as the consequences of war, but as Europe’s largest infrastructure project, it becomes clear: it cannot be accomplished without private capital, reforms, and international coordination.
In conclusion, we recall that a similar figure for Ukraine’s recovery costs was recently voiced by the Polish Minister of State Assets, Wojciech Balczun. During his speech at the Davos forum, he cited a figure of €506 billion ($597 billion) for the period up to 2034. The new numbers confirm the colossal scale and the corresponding opportunities for those ready to participate in the recovery.
*Photo source: kmu.gov.ua.
**Currency conversions to GBP and CAD are approximate, based on the exchange rate as of February 24, 2026. For precise calculations, please use our currency converter.
