Ukraine requires an initial €500 million ($566 million) to rebuild key infrastructure at its Black Sea ports, heavily damaged by ongoing Russian missile and drone attacks, a government official announced on Friday.
Nearly 400 Port Facilities Damaged
According to Andriy Kashuba, Ukraine’s Deputy Minister of Territorial Development, nearly 400 port infrastructure facilities have been hit since the start of Russia’s full-scale invasion in February 2022. Seaports are vital for Ukraine, which depends on maritime routes for over 90% of its exports.
“The main critical infrastructure facilities for ports and shipping that we have already lost have been identified … and now we have to restore them,” Kashuba said at the Black Sea Security Forum in Odesa.
Odesa Ports Still Operating
Ukraine currently operates three major seaports in the Odesa region, while other ports remain non-operational due to the war. These functioning ports are essential lifelines for the war-torn economy and its global trade.
Total Rebuild Cost Estimated at €1 Billion
While the immediate need is €500 million, the total cost to fully rebuild damaged port infrastructure is projected at €1 billion. This figure is a small portion of the broader reconstruction challenge Ukraine faces.
Broader Recovery to Cost Over $500 Billion
A World Bank estimate from December puts Ukraine’s overall reconstruction and recovery cost at $524 billion (€506 billion) over the next ten years—nearly three times the country’s projected 2024 GDP.
Ukraine’s urgent call for €500 million highlights the strategic and economic importance of its Black Sea ports amid ongoing conflict.
As missile and drone attacks continue to damage critical infrastructure, swift international support will be essential to restore maritime trade, strengthen economic resilience, and maintain global supply chains dependent on Ukrainian exports.
While the total reconstruction cost remains staggering, targeted investments in port infrastructure mark a crucial first step toward broader national recovery.
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Source: REUTERS
