Russia’s two-month old war on Ukraine has already inflicted more than $60 billion in physical damage to the country, according to World Bank president David Malpass at a conference on the war. And the cost is likely to be much higher as the war goes on. Malpass said the early estimate only takes into account known physical damage, and does not consider economic costs that include Ukraine’s considerable agricultural exports and other businesses. “Of course the war is still ongoing, so those costs are rising,” Malpass said. Ukrainian President Volodymyr Zelensky said in taped remarks for the same conference, that Ukraine will need $7 billion a month to make up for economic losses. “And we will need hundreds of billions of dollars to rebuild all this later,” he added.
