The United Nations said the recovery following the COVID-19 pandemic could be slowed by Russia’s war with Ukraine, especially for the developing nations.
The UN says that despite the economic effects posed by Russia’s aggression against Ukraine, it is “no excuse for inaction.” The UN also cites a drop in aid from developed nations to developing nations.
“There is no excuse for inaction at this defining moment of collective responsibility to ensure hundreds of millions of people are lifted out of hunger and poverty. We must invest in access to decent and green jobs, social protection, healthcare, and education, leaving no one behind,” UN Deputy Secretary-General Amina Mohammed said.
“The Ukraine crisis risks tipping up to 1.7 billion people — over one-fifth of humanity — into poverty, destitution, and hunger,” the UN said. The organization said Russia has 30% of the world’s wheat and barley supply, one-fifth of its maize, and over half of its sunflower oil.
Earlier in the week, the UN released a report indicating the COVID-19 pandemic could exacerbate the divide between developed and developing nations. The organization estimates the pandemic pushed 77 million people globally into poverty.
The report estimates that 1 in 5 developing countries’ GDP per capita would not return to 2019 levels by the end of 2023, even before absorbing the impacts of the Ukraine war, the UN said.
Adding insult to injury, 13 developed nations have decreased support for developing countries.
“The developed world proved in the last two years that millions can be lifted out of poverty by the right kind of investment – in resilient and clean infrastructure, social protection or public services,” said UN Under Secretary-General Liu Zhenmin, head of the Department of Economic and Social Affairs, which produced the report. “The international community must build on that progress and ensure developing countries can invest at similar levels while reducing inequality and securing a sustainable energy transition.”
In a separate report, the UN indicated that 30% of the world’s grain.