A Longitudinal Study of Displaced Ukrainian Women’s Financial and Economic Lives
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Financial Inclusion and Financial Displacement for Women in Ukraine. Forced displacement is a harrowing experience that disrupts not only the lives of individuals but also their financial stability, livelihoods, and social networks. This disruption is particularly severe for women, who often face compounded challenges due to existing gender disparities. In the context of Ukraine, where the ongoing conflict has led to the displacement of millions, the situation for women is especially precarious. Women’s World Banking undertook an 18-month study to delve into the financial and economic challenges faced by externally displaced Ukrainian women, shedding light on the broader issue of inadequate support for displaced women globally.
The study, which focuses on Ukrainian women living in Moldova, Romania, and Poland, addresses four critical questions that are central to understanding the financial inclusion and economic resilience of displaced women. These questions include how women’s financial strategies change in the 18 months following their displacement, how their economic strategies evolve during this period, how the financial resilience of these women and their families shifts throughout resettlement, and what insights can be gleaned to inform policy and humanitarian responses for other displaced groups around the world.
The research employed a mixed methods approach, combining a quantitative panel survey of 1,287 Ukrainian women with two rounds of in-depth interviews. The survey, conducted at three different points over the 18 months, provided a broad view of the financial lives of these displaced women, while the in-depth interviews with 22 selected women offered a more nuanced understanding of their financial decision-making processes and the challenges they faced during their resettlement journeys.
One of the key findings from this study is that displacement significantly alters women’s financial strategies. In the immediate aftermath of displacement, women often rely on their savings and any available financial aid to meet their basic needs. However, as time progresses, these resources deplete, forcing women to adapt and find new ways to sustain themselves and their families. This often involves seeking employment in their host countries, which comes with its own set of challenges, including language barriers, lack of recognition of their qualifications, and discrimination. Many women also turn to informal work, which can be precarious and offer little in the way of financial security.
The study also highlights how women’s economic strategies evolve over time. In the early stages of displacement, many women prioritize securing shelter and food for their families, often at the expense of other needs. However, as they begin to settle into their new environments, they start to focus on rebuilding their lives, which includes finding stable employment, accessing education for their children, and reconnecting with social networks. This shift in priorities reflects the resilience of these women, who, despite the immense challenges they face, continue to seek ways to improve their circumstances and build a better future for their families.
Financial resilience, a critical component of long-term stability, also changes throughout the resettlement process. The study found that women’s financial resilience is closely tied to their ability to access formal financial services, such as bank accounts and credit. In many cases, displaced women face significant barriers to accessing these services, including lack of documentation, discrimination, and unfamiliarity with the financial systems in their host countries. As a result, many women remain financially vulnerable, with limited ability to save or invest in their future.
The insights gained from this study have far-reaching implications for policy and humanitarian responses to displacement. By understanding how women’s financial strategies evolve and how economic resilience shapes over time, policymakers and humanitarian organizations can develop more targeted and effective interventions to support displaced women. This includes ensuring that women have access to financial services, providing language and vocational training, and creating inclusive policies that recognize the unique challenges faced by displaced women.
Moreover, the study underscores the importance of global efforts to enhance the resilience and empowerment of all displaced populations. With over 100 million refugees worldwide, according to UNHCR estimates, there is an urgent need for a coordinated global response that addresses the specific needs of displaced women. This includes not only providing immediate assistance but also creating long-term strategies that promote economic inclusion and financial stability for displaced women. By doing so, we can work towards a more just and equitable future where all women, regardless of their circumstances, have the opportunity to thrive.
In conclusion, the Women’s World Banking study on externally displaced Ukrainian women offers valuable insights into the financial and economic challenges faced by displaced women. The findings highlight the need for more inclusive support systems that address the unique needs of displaced women and promote their financial resilience and economic empowerment. By applying these insights to policy and humanitarian responses, we can create a more equitable and just future for all displaced individuals. Download the full report below to explore these findings in greater detail.
Only through a range of economic and financial resources can displaced people find financial resilience amidst uncertainty. Policymakers and the financial sector have all the tools needed to create change for this growing population, and these insights should help build bridges to action to increase financial resilience for displaced women around the globe.
