As a result of Russia\u2019s invasion of Ukraine, the people of Ukraine, especially the most vulnerable, are paying an enormous price, with the World Bank projecting GDP to decline by around 45.1 percent in 2022 through displacement, damage, and disruption. The war has unleashed catastrophic damage to the country\u2019s economy and threatens lasting decreases in Ukrainians\u2019 living standards. Depending on the course of the war and of Ukraine\u2019s economy, poverty could well rise to almost 60 percent of the population by 2023. <\/p>\n\n\n\n
A rapid high-level physical damage assessment (not including economic costs) by the World Bank found that by March 31, 2022, the war will have caused at least 9.2 billion of physical damage to building sand infrastructure. This approach paper spans three phases for a flexible and focused approach to reviving Ukraine\u2019s economy, recommending critical immediate action areas to provide the foundation for regaining incomes and reducing poverty, while sketching out priorities to support resilient, inclusive recovery and reconstruction in the future.<\/p>\n\n\n\n