Only 3% of companies have closed since the beginning of the full-scale invasion of Ukraine by the Russian Federation, with 97% maintaining operations, said Regional Director of the World Bank for Eastern Europe Arup Banerjee, during Ukraine Recovery Business Day in London, organized by the EBA.
Banerjee added that large companies were more affected by the war, according to the World Bank study. According to the regional director, 97% of companies said they continue to work, and of that 97%, 80%, or four out of five, companies are open or partially open, operating, conducting business, and not laying off employees. Many companies have reduced capacity but continue to operate, which is “an amazing and moving story”.
On the one hand, it is about lost potential, but on the other hand – about companies’ stability and struggle for their future and further development in Ukraine, noted the World Bank’s regional director for Eastern European countries.