Skip to content
Politics

Ukraine Reconstruction May Cost $1.1 Trillion, EIB Head Says

Destroyed apartment buildings following Russian attacks, in Borodyanka, Ukraine.

Destroyed apartment buildings following Russian attacks, in Borodyanka, Ukraine.

Photographer: Carlos Reyes/AFP/Getty Images
By

Ukraine may need as much as 1 trillion euros ($1.1 trillion) in outside assistance to repair the damages inflicted by Russia’s invasion, according to European Investment Bank chief Werner Hoyer. 

“I’ve put the trillion out there because I saw figures in the public space that I consider completely unrealistic when I look at the level of destruction” in Ukraine, said Hoyer, who runs the European Union’s lending arm. Europe “will have to play the biggest role” in this effort, he told a press briefing in Frankfurt.