Aliona Babak was born in Kryvyi Rih, Dnipropetrovsk Oblast. Graduated with honours from the Kyiv State Pedagogic Institute of Foreign Languages, attaining the qualification of foreign languages teacher (English and French) in 1996.
In 1996 won the Edmund Muskie Fund grant for studying in the USA, which allowed her to attain Master’s degree in Business Administration and Finance from Old Dominion University, Virginia.
Since 1998 Babak has worked as an entrepreneur, manager of international projects, head specialist on pricing and financial management in housing and local development. In 2004 co-founded and became a member of managing board of the charity organisation ‘Local Development Institute’, where she specialises on financial management of housing. She has written 30 academic papers on reforming housing and communal services and regulations for the natural monopolists.
She is a member of a working group on reforming of housing and communal services with the Ministry of Regional Development, Construction, Housing and Communal Services of Ukraine. Member of the Consulting Council at the National Commission on State Regulation of Communal Services.