The World Bank reports that $411 billion is needed to restore Ukraine, of which — for the urgent restoration of infrastructure and the economy. To this end, URC2023 was recently held, 59 states, as well as private corporations and international associations, took part. Thus, in 2 days, Ukraine received guarantees, loans and investments worth $60 billion.
"The Ukraine Recovery Conference has sent a clear message that we not only stand with Ukraine through Putin's attacks, but we will stand with Ukraine in peace. As Ukraine recovers and rebuilds, we support its ambitions to emerge with a stronger, more resilient, sustainable and innovative economy," James Cleverly.
- The UK's $3 billion of guarantees to open World Bank lending to Ukraine + £240 million of assistance;
- €50 billion from the EU Parliament and Council;
- $1.3 billion from the USA to recover Ukrainian key infrastructure;
- €3-5 billion from the European Bank for Reconstruction and Development;
- £250 million from British International Investment for economic recovery;
- G7 and EBRD to attract private investments;
- £20 million from the UK and MIGA for military risks insurance;
- £1.5 million to support Ukraine's digital system;
- £62 million for the energy sector;
- £10 million InnovateUkraine from Green Energy Innovations Challenge Fund;
- £25 million to the IFC for energy security;
- £25 million for cyber defences;
And so on.
Nearly 500 companies from 42 countries, worth over $5.2 trillion, signed up to the Ukraine Business Compact to care for the Ukrainian private sector. These companies are Google, Siemens, Vodafone, Hitachi, Virgin Group, Rolls-Royce, Philips etc.
"Commitments made at this event will go a long way to meeting Ukraine's most urgent early recovery needs, but as Putin's illegal war continues, the bill is only increasing. We, as an international community and a coalition of business, governments and civil society, must continue to focus our efforts to support Ukraine not just to defend its freedom, but in its recovery and reconstruction too," James Cleverly.
The Ukraine Recovery 2024 will be held in Germany.