Initially set up as a high-level international event for benchmarking progress on the reforms agenda, today the Ukraine Recovery Conference (URC) represents the central forum for the international community to support Ukraine in its recovery and reconstruction efforts in the face of Russian aggression and the immense scale of damage and loss inflicted upon Ukraine resulting from the Russian invasion. Contributing to immediate recovery and longer-term reconstruction efforts in support of building Ukraine’s prosperity is an essential component for a just and lasting peace.
The United Kingdom was proud to co-host with Ukraine, the Ukraine Recovery Conference 2023. The conference focussed on action to help Ukraine build back better, greener and as a more resilient and prosperous European nation. In particular, URC 2023 aimed to generate greater momentum on the role of the private sector – and the reforms required to drive investment – as essential elements for Ukraine’s long-term recovery.
Our priority for URC23 was to make sure it delivered real, measurable changes for Ukraine. The key URC23 objectives were:
The Government of Ukraine provided updates on progress on their National Recovery and Development Plan, including advancement of the reforms agenda. They provided assessments of the security situation and outlined the vision for their future post-war economy, and the opportunities to support the recovery process.
Co-Chairs’ Statement by the Governments of Ukraine and the United Kingdom, Co-Hosts Ukraine Recovery Conference 2023, London
These presentations were delivered during the London Ukraine Recovery Conference 2023
The London Conference Framework for War Risk Insurance outlines support for immediate de-risking measures to increase investor confidence. It will guide efforts in working with the commercial insurance markets to unlock private investment to meet Ukraine's long-term reconstruction needs.
The European Bank for Reconstruction & Development (EBRD) announced its “Ukraine Guarantee Leverage Facility,” a pilot insurance scheme focusing on in-land transport and trade facilitation. The facility is supported by the European Commission, Switzerland, Norway and the Taiwan Business - EBRD Technical Cooperation Fund. A Statement of Intent was signed to support the development of this initiative.
The Ministry of Economy of Ukraine announced further details on the Ukraine Development Fund (the UDF). The UDF will be a National Development Finance Institution focused on attracting public and private sector capital into the reconstruction of the post-war economy through blended finance. The UDF will invest in the form of concessionary capital across five key sectors of the Ukrainian economy: energy incl. green steel and hydrogen, infrastructure, agriculture, manufacturing, and IT. Further details can be found in the below presentation.