Ukraine needs $588 billion to rebuild from the devastation caused by Russia’s four-year invasion, a figure almost three times higher than the country’s annual economic output, according to the World Bank and other institutions, AFP reports.
The estimated total is 12 percent higher than the amount given last year, amid a winter of devastating Russian attacks on Ukraine’s energy infrastructure that has left millions of people without heat and electricity.
More than one in seven homes in Ukraine have been damaged or destroyed as a result of the war, the financial institutions’ report said.
The frontline regions of Donetsk and Kharkiv will need the biggest investments, while the capital Kiev will require more than $15 billion to recover, the report further says.
Tuesday marks four years since the Russian invasion of Ukraine began, and although several rounds of talks to achieve peace have been held, mediated by the US, they have so far yielded no results.