United Nations Development Programme (UNDP) yesterday launched a plan to provide immediate economic help and longer-term assistance to the millions left struggling to meet basic needs, in the wake of the Russian invasion of Ukraine.

The plan aims to counter the devastation that’s been caused by the shelling of cities and early projections that two decades of economic progress could be lost if the war continues.

The announcement came as The World Bank issued an alert that Ukraine’s economy is set to shrink by 45 per cent in 2022 because of the war.

The World Bank also noted that hit by unprecedented sanctions, Russia’s economy has already plunged into a deep recession with output projected to contract by 11.2 per cent in 2022.

“The war in Ukraine continues to inflict immense human suffering…with nine out of 10 people at risk of falling into poverty.

Germany okays Austrian chancellor’s visit to Moscow

German Chancellor Olaf Scholz has welcomed a trip by Austrian Chancellor Karl Nehammer to meet Russian President Vladimir Putin in Moscow.

Deputy spokesperson Christiane Hoffmann said in Berlin on Monday.

Hoffmann said that Scholz was in favour of “any diplomatic efforts aimed at bringing an end to the fighting in Ukraine and creating basic conditions for negotiations between Ukraine and Russia.”

On the question of whether Scholz would also be travelling to Moscow at some point, she said.

“I don’t see any plans at the moment in this regard.

Opposition politicians and Ukraine’s ambassador to Germany, Andriy Melnyk, have tried to pressure Scholz as one of the Western leaders.

The pressure was to have talked most often with Putin over the phone during the conflict to visit Moscow, or indeed Kiev, in person.