UK to support Ukraine’s recovery efforts

The United Kingdom has announced a wide-ranging package of support for Ukraine�s recovery effort to bolster its resilience in the immediate term as it continues to push back Russian forces.

The support will also enable the long-term reconstruction of Ukraine as a modern, stable and resilient democracy.

This was contained in a statement made available to our correspondent on Wednesday by the British High Commission.

The announcements were made at the Ukraine Recovery Conference in London on Wednesday.

President Vladimir Putin’s illegal war has caused untold destruction and devastation across Ukraine. The recent destruction of the Kakhovka dam has had wide-reaching ecological and humanitarian consequences, which have dramatically worsened the situation.

As part of the conference, the UK called on the private sector to boost Ukraine�s recovery, support both urgent recovery needs, and galvanise action for long-term reconstruction.

The UK supports announced at the conference will help kick-start Ukraine�s road to recovery and lay the foundations for private sector investment. In the immediate term, this means repairing vital energy, transport, and social infrastructure and rebuilding liberated towns and bomb-destroyed cities, to bolster Ukraine�s resilience for the months ahead.

Following announcements made, the UK�s non-military assistance to Ukraine now totals more than �4.7 billion.

The UK Prime Minister, Rishi Sunak, announced a landmark package of financial support for the country, including $3 billion of additional guarantees to unlock World Bank lending, and �240 million of bilateral assistance.

The UK is also working with international partners to provide further new financial backing for Ukraine�s economy, with the European Bank for Reconstruction and Development looking to raise between �3-5 billion of new capital from shareholders, backed by the UK. This has the potential to quadruple investment capacity in Ukraine.

The Foreign Secretary, James Cleverly, noted that as Ukraine enters a second year of defending itself against Putin�s illegal invasion, it is vital that the global community continues to show our strength of support for Ukraine�s recovery.

Cleverly said, �Through hosting this event, we are standing in solidarity with Ukraine and committing our support for them to emerge from the war not only victorious but as a sustainable, modern and resilient democracy.

�The commitments the UK has made today will bolster Ukraine�s current and future recovery needs.�

Further UK support will cover a wide range of sectors essential to Ukraine�s current resilience and future prosperity.

The Conference will continue in London, Thursday, June 22, with a focus on the role the private sector and businesses can play in supporting Ukraine�s recovery.