Cost of rebuilding Ukraine nearing half a trillion dollars: report

Cost of rebuilding Ukraine nearing half a trillion dollars: report
KYIV, UKRAINE - MARCH 16: A woman wrapped in Ukrainian flag takes part in the action on March 16, 2023 in Kyiv, Ukraine. People create the inscription “ДЕТИ” (CHILDREN) with lighted candles to commemorate the victims of Russian bombing. A year ago, Russian army dropped bombs on the Mariupol Drama Theater, in which thousands of civilians were hiding from shelling. Because of the airstrike, hundreds of Mariupol residents died, including many children. (Photo by Yurii Stefanyak/Global Images Ukraine via Getty Images).

Wars are expensive in blood and treasure. World War I, for example, was "fought at an estimated cost of $208 billion," according to the National Archives. World War Two ended with a price tag in the trillions – making it the priciest conflict in human history.

Today, Russia's February 24th, 2022 invasion of Ukraine is the largest land war in Europe since 1945. Numerous Ukrainian cities lie in ruins, while casualties on both sides continue to accumulate through the thousands. Whenever and however it ends, rebuilding Ukraine after Russian President Vladimir Putin's conquest will require years if not decades. And the bill to do so is beginning to become clear.

On Wednesday, the World Bank released a report in which it calculated that "recovery and rebuilding from Russia’s invasion at $411 billion over the next decade, with the cost of cleaning up the war rubble alone at $5 billion," according to the Associated Press.

READ MORE: Progressive Ben & Jerry's founder donates $1 million to group opposing Joe Biden's Ukraine policy: report

"The report provides both sweeping and closely detailed looks at some of the toll of Russia's war in Ukraine: at least 9,655 civilians confirmed dead, including 465 children; nearly 2 million homes damaged; more than one out of five public health institutions damaged; and 650 ambulances damaged or looted," AP explained. "In all, the World Bank calculated $135 billion in direct damage to buildings and infrastructure so far, not counting broader economic damage."

Putin's unprovoked attack has also "undone 15 years of economic progress in Ukraine, cutting Ukraine's gross domestic product by 29% and pushing 1.7 million Ukrainians into poverty," the outlet noted.

Radio Free Europe added, per Reuters, that the $411 billion figure "is 2.6 times Ukraine's expected 2022 gross domestic product and is up sharply from an estimate of $349 billion released last September."

READ MORE: International Criminal Court plans first arrest warrants for Russia's Ukraine invasion: report

The Associated Press' full article is available here.

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