Ukraine Recovery Conference begins in London.

The 2023 Ukraine Recovery Conference (URC), an event aimed at mobilizing international support for Ukraine's economic stabilization and war recovery, started[1] in London on June 21. "When Ukrainians re-imagine their future, they see Europe's flag flying over their cities. Ukraine's future is our future," European Commission President Ursula von der Leyen said[2] in an opening remark, as quoted by a Kyiv Independent team member.

She also announced[3] a dedicated facility to cover 45%, or £55 billion, of Ukraine's estimated fiscal gap until 2027. U.S. State Secretary Antony Blinken reportedly announced £1.3 billion in additional aid focused on infrastructure projects, including £520 million to support energy grid work.

Blinken called on greater public sector involvement to help manage the "huge costs," while emphasizing that Russia is responsible for the damages, and will bear the ultimate cost.

U.S. State Secretary Anthony Blinken at the opening of the Ukraine Recovery Conference on June 21, 2023. (Photo: Jakub Parusinski/Kyiv Independent)

The U.K. has pledged[4] £3 billion of World Bank loan guarantees to bolster Ukraine's economic stability and £306 million in bilateral aid. Ukraine's President Volodymyr Zelensky addressed the conference through an online call, thanking the U.K.

Prime Minister Rishi for his leadership and support. The URC 2023 is held by Ukraine and the U.K., following the last year's conference in Lugano, Switzerland. "Since Lugano, the international community has pledged significant emergency assistance, but a broader mobilization of public and private sectors is needed to meet the scale of stabilization and recovery needs Ukraine requires following Russian attacks," the URC 2023 organizers said.

The URC was launched for the first time in London in 2017.

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[5] Martin Fornusek

News Editor

Martin Fornusek is a news editor at the Kyiv Independent.

He has previously worked as a news content editor at the media company Newsmatics and is a contributor to Euromaidan Press. He also volunteers as an editor and translator at the Czech-language version of Ukrainer. Martin studied at Masaryk University in Brno, Czechia, holding a bachelor's degree in security studies and history and a master's degree in conflict and democracy studies.

References

  1. ^ started (www.urc-international.com)
  2. ^ said (twitter.com)
  3. ^ announced (twitter.com)
  4. ^ pledged (www.gov.uk)
  5. ^ Browder: 'West must hand Russian Central Bank's £350 billion to Ukraine for reconstruction'London-based American investor Bill Browder says people call him the "number one enemy" of Russian President Vladimir Putin and, more recently, an official "Friend of Ukraine." Browder has spent the last 13 years campaigning to freeze Putin's assets hidden in the West.

    Now, he's fighting for them t... (kyivindependent.com)

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