Ukraine needs €500 million to restore Black Sea ports' key facilities damaged by Russian attacks

Reuters reported the information.

Nearly 400 port facilities have been damaged in over three years of Russian attacks. Seaports are vital for Ukraine, handling 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," Andriy Kashuba, deputy minister of territorial development, told the Black Sea Security Forum in Odesa.

Ukraine currently runs three main seaports in the Odesa region, while others have remained closed since Russia's full-scale invasion in February 2022.

Kashuba said the total cost of rebuilding the ports' infrastructure was estimated at around €1 billion.

That amount pales in comparison to Ukraine's overall reconstruction needs, which the World Bank estimated at $524 billion (€506 billion) over the next decade - around 2.8 times the country's projected 2024 GDP.

Many industrial and residential infrastructure facilities across Ukraine have been destroyed or severely damaged by Russian attacks.