Ukraine reconstruction may cost $1.1 trillion

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

Werner Hoyer made this conclusion looking at the level of destruction in Ukraine and the figures in public space, which he considers completely unrealistic. According to him, Europe will have to play the biggest role in this effort.

The European Commission first proposed the latest aid package in mid-May to cover part of Ukraine’s financial needs of around 5 billion euros per month. The EIB could play a central role in funneling money from the EU to the war-torn country.

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