CEOs attend the Ukraine Recovery Conference in London
Representatives of the European Union and the United States met on Wednesday (June 21, 2023), in London, at the Ukraine Recovery Conference to discuss strategies for rebuilding the country. At the meeting, heads of state and private companies pledged to transfer $61.3 billion (292.4 billion R$) in loans and donations to the eastern European country.
The conference was attended by delegations from more than 60 countries. US Secretary of State Anthony Blinken announce In the event that the United States will provide more than $ 1.3 billion in new assistance, including more than $ 500 million to restore and improve the damaged power grid in Ukraine.
The President of the European Commission, Ursula von der Leyen, said she would support Ukraine’s efforts to maintain macro-financial stability, promote recovery, as well as rebuild and modernize the country.. The amount should also go towards the reforms necessary for the country’s accession to the European Union between 2024 and 2027. Read on full From the statement issued by the European Union on Wednesday (241 KB, in English).
At the conference, Executive Vice-President of the European Commission Valdis Dombrovskis, together with the President of the European Investment Bank (EIB), Werner Hoyer, and the President of the European Bank for Reconstruction and Development (EBRD), Odile Reynaud-Basso, signed agreements worth more than 800 million euros for “Mobilizing private investment for the recovery and reconstruction of Ukraine’s economy”.
“The agreements signed today provide incentives for the private sector to invest in Ukraine, create wealth and jobs and bring the Ukrainian economy closer to the European Union.”Dombrovskis said. The agreements form part of the new Ukraine Fund, which is expected to become operational in 2024.
The UK has pledged $305 million in aid and $3.8 billion in loan guarantees from the World Bank to Ukraine. Germany announced 381 million euros ($416 million) in humanitarian aid.
Addressing delegates via video, Ukrainian President Volodymyr Zelensky said his country needed action, not just promises. “We must move from vision to agreements and from agreements to real projects”, He said. The World Bank has estimated the cost of rebuilding the invaded country at more than 400 billion US dollars, a figure according to the entity that is still growing at the pace of the Russian attack.
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