UN official says Ukraine-Russia conflict hurting performance of Africa's economy

NAIROBI, May 24 (Xinhua) -- A United Nations official said Tuesday that the Ukraine-Russia conflict is negatively affecting the performance of Africa's economy.

Walid Badawi, the United Nations Development Programme (UNDP) resident representative in Kenya said that the crisis has resulted in the rising cost of basic commodities on the continent.

"Many countries in Africa are net importers of food and rely heavily on exports of wheat from Russia and Ukraine. This value chain has now been affected and could result in rising food insecurity," Badawi said in Nairobi, Kenya's capital, on the sidelines of a high-level symposium on SDG investment mobilization for Africa.

He said that since the Ukraine-Russia conflict erupted in February, the cost of oil in the global markets has increased and this has translated into high energy costs on the continent.

The UN official revealed that the conflict has resulted in the diversion of development assistance from Africa to countries affected by the crisis.

"Many countries in Europe have been directly impacted by the influx of refugees from Ukraine and they are now redirecting their overseas development assistance budgets to take care of their domestic pressures because they have to accommodate refugees," Badawi added.

He observed that major economies and steadfast supporters have also announced budget cuts to the United Nations.

"This will have knock-off effects on the ability of the United Nations and other multilateral development agencies to finance poverty reduction efforts in Africa," he said.