Long War Means Poverty For 90% Of Ukrainians: UN

The prolonged Russian invasion of Ukraine has destroyed not only buildings, roads, bridges, hospitals, and schools worth $100 billion but also threatens to push 90% of Ukrainians into the quagmire of grinding poverty, the UN Development Program (UNDP) warned.

Photo Insert: A man bids goodbye to his family at a train station in Ukraine.

Worse, the war caused by Russian President Vladimir Putin has caused half of the country’s businesses to shut down completely, while the other half are struggling, UNDP added, Kyiv Independent reported.

On the other hand, the United Nations Children's Fund (UNICEF) claimed Russia’s war may lead to “catastrophic levels” of malnutrition among children globally. Rising food prices due to Russia’s full-scale invasion of Ukraine, among other factors, may leave up to 600,000 children without life-saving treatment.

Ukraine signed a $100 million loan agreement with Japan on May 16. Finance Minister Serhiy Marchenko and the President of the Japan International Cooperation Agency (JICA) Akihiko Tanaka signed a loan to cover social payments, including for internally displaced people amid the ongoing war with Russia.

The repayment period of the loan is 30 years with an interest rate of 1% per annum, including a grace period of 10 years.

Ukraine also seized $420 million in frozen assets linked to Russian oligarchs. Ukraine’s Prosecutor General’s Office and Bureau of Economic Security seized Hr 12.4 billion from Cypriot company accounts in Alfa-Bank whose Russian beneficiaries reportedly tried to circumvent sanctions.

Ukraine has also established a fund to assist women previously in Russian captivity and orphans.

Ukraine’s Deputy Prime Minister Iryna Vereshchuk and Head of Poland’s Prime Minister’s Office Michal Dowryzyk announced the establishment of the Klymentii Sheptytsky Foundation to support women and children affected by Russia’s war.

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