This estimate is based on the damage inflicted on Ukraine in the first year of a full-scale Russian invasion.

It was held jointly by the Government of Ukraine, the World Bank, the European Commission and the United Nations.

Compared to September 2022, the amount increased by 62 billion dollars — in the previous report, it was 349 billion dollars, the Ukrainian service of Radio Svaboda writes.

The required $411 billion is 2.6 times the estimated gross domestic product of the country for 2022.

The report said the estimates "should be considered a minimum as needs will increase while the war continues."

The recovery of Ukraine "will take several years", said the vice-president of the World Bank for Europe and Central Asia, Anna Byerde.

She added that public investment support should also be complemented by significant private investment to increase available financing for the reconstruction of Ukraine.

Russia's invasion of Ukraine in February 2022 led to the displacement of millions of people, and global food and energy prices jumped due to the consequences of the war.

As noted by the Prime Minister of Ukraine, Denis Shmyhal, part of the reconstruction work has already been completed.

He also added that "the amount of damage and the need for restoration do not yet include data on the loss of infrastructure, housing and business in the occupied territories."