Ukraine refugee humanitarian crisis 'to amount to €60bn' for EU countries

Ratings firm predicts 'the need for future new funding at EU level'

Ukraine's immediate neighbours, Poland, Slovakia, Hungary, and Romania will bear significant costs, ratings agency says. Picture: AP Photo/Sergei Grits

Humanitarian and housing costs of caring for 5.5m Ukrainian refugees will amount to €50bn to €60bn, necessitating more EU funds, a ratings firm has estimated. 

DBRS Morningstar said Ukraine's immediate neighbours, Poland, Slovakia, Hungary, and Romania will bear significant costs and that while there is money available in existing budgets, it predicts "the need for future new funding at the EU level".