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The World Bank, United Nations, European Commission and the Ukrainian government have said that the estimated cost of rebuilding Ukraine’s economy after Russia’s invasion has risen to $524 billion, nearly three times its expected 2024 economic output.

A new study by the institutions included data from Russia’s invasion three years ago through December 31, including a 70 percent increase in damages to Ukraine’s energy infrastructure from Russian attacks.

The study showed an increase of over 7 percent from the last estimate of $486 billion one year ago, with housing, transport, energy, commerce and education being the most affected sectors.

In a joint news release, the institutions quantified the direct physical damage to buildings and other infrastructure, the impact on people’s lives and livelihoods and the cost to “build back better”.

President Donald Trump of the United States is pushing to end the war through separate talks with Russia and Ukraine, telling reporters during a meeting with French President Emmanuel Macron that a deal could be reached in weeks.

Ukrainian Prime Minister Denys Shmyhal in a statement said in the past year, Ukraine’s recovery needs have continued to grow due to Russia’s ongoing attacks.

It was gathered that Ukraine’s government has allocated $7.37 billion to address priority needs for 2025, with support from donors, but still has a financing gap of nearly $10 billion, the joint statement said.