Ukraine needs $524 billion to recover, rebuild after three years of war, World Bank says

FILE PHOTO: The World Bank logo is seen at the 2023 Spring Meetings of the World Bank Group and the International Monetary Fund in Washington, U.S., April 13, 2023. REUTERS/Elizabeth Frantz/File Photo

WASHINGTON (Reuters) - The estimated cost to rebuild Ukraine's economy after Russia's invasion has risen to $524 billion, nearly three times its expected 2024 economic output, the World Bank, United Nations, European Commission and the Ukrainian government found.

A new study by the institutions included data from Russia's invasion three years ago through December 31, including a 70% increase in damages to Ukraine's energy infrastructure from Russian attacks.