The war in Ukraine reached its one-year mark, and the conflict has caused extensive civilian casualties and destruction of infrastructure. As the war grinds on, the situation has only been made worse. And the impact of the war is not limited to Ukraine; Ukraine and its neighboring countries are facing severe humanitarian and refugee crises. According to the UNHCR, about one-third of the Ukrainian population was forced to migrate and the majority of refugees are women and children. As of December 2022, around 7.8 million Ukrainians have moved to neighboring countries and Europe. Combined with the physical damage to the infrastructure, the amount of development finance needed for the reconstruction and recovery of Ukraine has gradually increased to reach billions of dollars. For instance, the World Bank estimated that the cost of Ukraine’s reconstruction and recovery would be around $349 billion.