Arup Banerjee said that in the past weeks Russia has carried out attacks on Ukrainian infrastructure, which has made the situation worse. However, Russia has changed its strategies, which has increased the risk.
Poverty in Ukraine has increased 10 times amid the war with Russia. A top World Bank official said a Russian attack on Ukraine’s infrastructure could worsen the economic situation in the country. Arup Banerjee, the World Bank’s regional director for Eastern Europe, said Russia’s attacks on Ukraine’s infrastructure in the past weeks have made the situation worse. However, Russia has changed its strategies, which has increased the risk.
He said that if the war continues, its consequences are going to be even worse. In a conversation with a news agency, he has drawn attention to the problems faced by the winter season, which can increase the problems for the displaced people. He said that winter really causes trouble, certainly by December or January if the houses are not repaired then internal wave of migration of displaced people can be seen.
Ukraine needs 55 billion dollars
Earlier, Ukrainian President Volodymyr Zelensky said Ukraine may need between $55 billion and $38 billion to meet the projected budget deficit next year. He said Ukraine needed $17 billion to repair infrastructure, including schools, housing and energy facilities, after the Russian invasion. The Ukrainian president said he needed funds to maintain order amid the war, and that necessary repairs and re-construction work was also starting.
Poverty in Ukraine may increase to 55%
Arup Banerjee said that the appeal made by the Ukrainian President was discussed in the annual meetings of the International Monetary Fund and the World Bank. In the last weeks also, the Ukraine war was discussed. “Most countries have indicated that they will financially support Ukraine next year, which is a positive result,” he said. He said 25% of the population would be living in poverty by the end of the year, up from a little over 2% before the war, and could rise to 55% by the end of next year.