WASHINGTON, (Reuters) – The physical damage caused by Russia’s invasion to Ukraine’s infrastructure and buildings has exceeded $60 billion. This figure will increase as war progresses, World Bank President David Malpass stated on Thursday.

Malpass stated at a World Bank conference about Ukraine’s financial aid needs that an early assessment of damage costs is not inclusive of growing economic costs from the conflict in Ukraine.

Malpass explained that “Officially the war is still ongoing so those costs continue to rise.”