Supporting the Economic and Financial Well-being of Ukrainian Refugees

This Capstone project sought to evaluate the economic and financial needs of Ukrainian refugees and to identify ways in which the Development Finance Corporation (DFC) could best assist them. The project's ultimate goal was to provide direct support to Ukrainian refugees in gaining financial resiliency during the war's precarious stage. The project began by researching and creating landscapes to identify what host countries can provide to facilitate refugees' resettlement and integration into their new communities, aside from temporary protected status. The Capstone team not only focused on EU countries which have taken the highest refugee populations, but also conducted a Venezuelan refugee comparison study to highlight applicability in other refugee populations. Next, the team assessed the financial requirements of refugees, including their use of loans and credit cards and how they can access banking services with refugee identities. Finally, the team explored potential investment opportunities that align with DFC's requirements in Moldova, Ukraine, and Brazil. 

The team recommended that DFC support refugees with profit-generating investments by identifying a well-researched developmental rationale, addressing specific market needs and financing gaps related to said rationale, calculating the required scope and investment size, and conducting outreach to potential local partners. The team also presented a lending model for DFC that is not restricted to political areas designated by the World Bank, but is instead designated and directed by the population of displaced people themselves. The project's outcomes were essential for establishing a framework that DFC can apply to address future refugee crises, such as those currently occurring in Venezuela.