A building is destroyed by rocket in in the southeastern city of Dnipro, Ukraine on January 14, 2023. (Photo: AFP/VNA)

The estimate covers the period spanning one year since Russia launched its special military operation on February 24, 2022, and quantifies the direct physical damage to infrastructure and buildings, the impact on people's lives and livelihoods, and the cost for better reconstruction, the World Bank said.

The amount is up sharply from an estimate of 349 billion USD released last September.

This year, Ukraine has put forth five priorities to the reconstruction - energy infrastructure, housing, critical infrastructure, economy, and humanitarian demining.