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The cost of rebuilding and recovering Ukraine from the war with Russia is expected to be $349 billion, a figure that could rise further as the war continues. The assessment was released this Friday, 9, by the European Commission on its website and is endorsed by it, the Ukrainian government and the World Bank, in cooperation with partners.

The so-called Rapid Needs and Damage Assessment (RDNA) presents the first comprehensive assessment of the war’s impacts on twenty different sectors after the Russian invasion. It also sets out the financing needs for a recovery and reconstruction and provides a roadmap for planning.

European Commission President Ursula von der Leyen said Ukraine “fights for democracy and our common values. The European Union (EU) cannot quantify the sacrifice Ukraine is bearing, but we mobilize all our instruments to respond to the most immediate needs, including housing for internally displaced populations and the repair of critical infrastructure,” she said.

“Since the start of Russia’s brutal and illegal war of aggression against Ukraine, the EU has mobilized €10 billion in funding, humanitarian, emergency and military assistance for Ukraine and another €5 billion in funding is on the way. The EU will take every step with Ukraine to rebuild a democratic, independent and prosperous country on its way to the EU”, concluded Ursula von der Leyen.

State Agency