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(MENAFN- Khaama Press) The World Bank, in the midst of peace talks for Ukraine and hopes for an end to the ongoing war, has announced that the cost of rebuilding the country has risen from $486 billion last year to $524 billion.
This increase is part of a report published on Tuesday, February 25, 2025, which was a joint evaluation conducted with the United Nations, the European Commission, and the Ukrainian government. The report highlighted a 7.82% increase in the estimated cost of reconstruction over the past year.
The evaluation revealed that the sectors most affected by the conflict include housing, transportation, energy, trade, and education. The damage to Ukraine’s energy infrastructure due to Russian attacks has seen a significant increase, with a 70% rise in related damages. Additionally, more than 2.5 million households in Ukraine have been affected by Russia’s military invasion, and around 13% of the country’s residential units have been either damaged or destroyed.
In terms of reconstruction, the report indicates that significant damage has been inflicted on Ukraine’s infrastructure, particularly in the housing sector.
The war’s destruction has caused a severe toll on Ukraine’s housing stock, leaving many families without shelter. As peace talks between the U.S. and Russia continue, hopes for a resolution have grown, though the situation remains dire for the Ukrainian people.
The upcoming meeting between U.S. President Joe Biden and Russian President Vladimir Putin in Saudi Arabia is expected to usher in a new phase of peace talks. The discussions will focus on resolving national and border issues and paving the way for the deployment of European peacekeepers in Ukraine. These talks will likely shape the future of Ukraine’s recovery and the broader geopolitical landscape.
As peace talks progress, the future of Ukraine’s reconstruction and the resolution of ongoing conflicts depend on continued diplomatic efforts and cooperation between global powers, offering hope for a lasting resolution.
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