Denys Shmyhal: Recovery Conference shows unwavering global support for Ukraine

As a result of the Recovery Conference in London, Ukraine has succeeded in attracting additional financial resources for reconstruction, building a business coalition for investment, and strengthening coordination with international partners. This was stated by Prime Minister Denys Shmyhal at the closing press conference.

“During the Recovery Conference, the world’s solidarity with Ukraine manifested itself in concrete practical results,” the Head of Government said.

In particular:

• The European Union announced a new EUR 50 billion medium-term support instrument for Ukraine.
• The United Kingdom announced a new GBP 3 billion support programme for the next three years.
• An agreement was signed with the World Bank to attract USD 1.76 billion.
• The EBRD will provide EUR 600 million to Ukraine’s state-owned energy companies Ukrhydroenergo, Ukrenergo and Naftogaz of Ukraine.
• The European Investment Bank will launch a new portfolio of projects for Ukraine’s reconstruction worth EUR 840 million.
• The United States pledged USD 1.3 billion in assistance.
• Germany announced an additional EUR 381 million.

“Together with the business community from Ukraine and around the world, we are also forming a coalition for investment in Ukraine – the Ukraine Business Compact. Already 400 international companies have joined this initiative. We understand that in order to restore private investment, we need to create an effective and efficient war risk insurance instrument. Together with the EU, Norway, Switzerland and the EBRD, we have signed an agreement to work together in this area,” said Denys Shmyhal.

The Prime Minister stressed that important political statements were also made during the Conference.

“Our partners support the idea of using frozen russian assets for the reconstruction of Ukraine. The second message was also heard repeatedly: Ukraine will become a member of the European Union. We are making a lot of changes to make this happen quickly,” concluded Denys Shmyhal.

The Prime Minister thanked the United Kingdom for hosting the Conference. He also thanked the partners and allies who stand with Ukraine: “Our resilience is the strength of the Ukrainian people multiplied by your support.”

IC UAC according to the Communications Department of the Secretariat of the CMU