Overview
As Ukraine enters a third winter of war, Russia’s invasion continues to cause staggering losses to people and the economy.
Poverty in Ukraine has increased by at least 1.8 million people to reach 9 million since the start of the war.
Substantial infrastructure damage and extensive electricity disruptions are likely to slow economic growth to 3.2% in 2024 and 2% in 2025.
While many are suffering, the government and the people of Ukraine continue to show remarkable resilience in the face of extensive devastation.
Ukraine’s private sector has demonstrated remarkable resilience yet faces considerable challenges as it navigates the ongoing conflict and its economic aftermath. While exports have resumed, financial fragility persists, particularly for small businesses.
Development Challenges
Ukraine faces immense financial needs in the coming years and private sector investment will be critical. The country will need at least $486 billion over the next decade to repair and rebuild, according to our Rapid Damage and Needs Assessment (RDNA3) released in February 2024. The highest estimated needs are in housing (17%), transport (15%), commerce and industry (14%), agriculture (12%), energy (10%), social protection and livelihoods (9%), and explosive hazard management (7%). With timely reforms to improve the investment environment, private sector could cover around one-third of reconstruction needs, as well as $280 billion in opportunities in other sectors.
Source: World Bank, 2024
How does Alliance2015 help?
Alliance2015 members are working together using their complementary resources and reach to ensure a quick and necessary emergency response to assist the crisis- affected population in Ukraine and neighbouring countries, since the military operations from Russia started in 2022.
Alliance2015 partners delivered essential humanitarian assistance directly both in conflict-affected locations and IDP-hosting areas, namely by delivering core-relief items into conflict-affected locations in Ukraine, providing emergency cash assistance to IDPs and their hosts and supporting collective centres in Western and Central Ukraine.
