Ukraine's partners pledge to provide $60 billion for reconstruction at London conference

The participants of the Ukraine Recovery Conference in London, which took place on Wednesday and Thursday, have collectively agreed to provide an additional US£60 billion for Kyiv's recovery and reconstruction needs. Source: European Pravda, citing the final statement from the conference This amount includes, among other things, funds from the European Union's multi-year facility of up to EUR50 billion, US£1.3 billion pledged by the United States, and US£3 billion in loan guarantees from the United Kingdom.

Switzerland announced further support of CHF 1.5 billion to 2027, and France announced the provision of another EUR40 million in emergency reconstruction aid to Ukraine in 2023.

Quote: "The Multi-Agency Donor Coordination Platform for Ukraine will continue to support the alignment of donor commitments to early recovery priorities and reform," the statement said. In addition, nearly 500 companies worth over US£5.2 trillion from 42 countries and 21 sectors of the economy have signed the Ukraine Business Compact, undertaking to support the recovery and reconstruction of Ukraine. "Businesses from across the world have agreed to work with Ukraine to help realise its huge potential, in priority sectors including energy, tech, infrastructure, and finance, and to apply their expertise in the development of Ukraine's private sector," the statement said.

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Background: On 21-22 June, the latest Ukraine Recovery Conference was held in London.

It is a continuation of the annual Conferences on reforms in Ukraine which have been held since 2017.

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