Rapid recovery needs are estimated at USD 15 billion: Government of Ukraine and international partners presented updated report on Ukraine's damages

Today, on 15 February, the Government of Ukraine, the World Bank Group, the European Commission and the United Nations presented the Third Ukraine Rapid Damage and Needs Assessment (RDNA3).

The presentation was attended by the Prime Minister of Ukraine Denys Shmyhal, Minister of Finance of Ukraine Sergii Marchenko, Deputy Prime Minister for Restoration, Minister for Communities, Territories and Infrastructure Development Oleksandr Kubrakov.

«The report provides an analytical basis for supporting the rapid recovery and long-term reconstruction of Ukraine following the large-scale russian invasion. Assessments verified by partners will help consolidate additional funding for reconstruction, notably from international donors within the framework of the Multi-agency Donor Coordination Platform for Ukraine», said Sergii Marchenko.

The report Third Rapid Damage and Needs Assessment for Ukraine presents an overview of Ukraine's damage caused by russia's war between 24 February 2022 and 31 December 2023. The report provides an assessment of the country's short-, medium- and long-term reconstruction and recovery needs.

As of 31 December 2023, the reconstruction and recovery needs over the next 10 years will amount to almost USD 486 billion. Direct damages have reached almost USD 152 billion.

These needs include both critical rapid recovery measures and medium-term recovery based on the approach of «build back better».

The rapid recovery needs amount to USD 15 billion, of which USD 5.5 billion has already been covered by the State Budget and donor support. Thus, Ukraine needs another USD 9.5 billion to finance priority recovery needs.

The build back better approach is aligned with the forthcoming EU Ukraine Facility, which will support Ukraine's reforms on the way to EU accession. The results of RDNA3 will facilitate the implementation of these instruments.

In March 2023, the second joint report of the Government of Ukraine, the World Bank, the European Commission and the United Nations «Rapid Damage Needs Assessment for Ukraine» was released. It provided an estimates of Ukraine's damages between 24 February and 24 February 2023.