Four years of full-scale war has left Ukraine facing a reconstruction bill of nearly EUR 500 billion.

Omissions

• The €506 billion figure comes from the World Bank RDNA4 assessment published on February 25, 2025, covering damage as of December 31, 2024. A more recent assessment (RDNA5) was published on February 23, 2026 (before the claim date of April 28, 2026), which estimated the cost at $588 billion (approximately €550-560 billion at 2026 exchange rates). The MEP used a figure that was approximately three months outdated at the time of the speech, though still within a reasonable margin.
• The reconstruction costs cover a 10-year recovery period, not immediate reconstruction needs.

Sources

• PrimaryWorld Bank - Updated Ukraine Recovery and Reconstruction Needs Assessment (RDNA4)The total cost of reconstruction and recovery in Ukraine is $524 billion (€506 billion) over the next decade as of December 31, 2024
• PrimaryWorld Bank - Updated Ukraine Recovery and Reconstruction Needs Assessment (RDNA5)Four years into Russia's full-scale invasion, the total cost of Ukraine's reconstruction and recovery is now estimated at nearly $588 billion
• SecondaryReuters - Ukraine reconstruction estimate jumps 12% to $588 billionRebuilding Ukraine's economy will cost an estimated $588 billion over the next decade, according to the World Bank, United Nations, European Commission and Ukrainian government joint assessment