On June 21-22 London hosts Ukraine Recovery Conference 2023, as a part in the row of initiatives following Lugano Conference 2022 held in Switzerland.

Officials from more than 60 countries, representatives of international financial institutions, private sector, civil society took part in the event. Almost a half of 1000 attendees represent business sector.

URC 2023 focuses on mobilising international support for Ukraine’s economic and social stabilisation and recovery from the effects of war, including through emergency assistance for immediate needs and financing private sector participation in the reconstruction process.

Volodymyr Zelenskyy, President of Ukraine, during a virtual a keynote speech, called for support, stressing that the country can become “the largest source of economic, industrial and technological growth in Europe for decades and decades”.

During the first day, the partners have announced large packages of financial aid and presented programs to attract investors.

The UK government previously approached companies that promised to help Ukraine rebuild in the form of investment, trade and exchange of experience, to which more than 400 companies from 38 countries responded, including Virgin Group (UK), a pharmaceutical giant Sanofi (France), a healthcare giant Philips (the Netherlands), Hyundai Engineering (South Korea), which designs factories, and Citigroup (USA). From Japan, the heavy industry manufacturing company IHI, the technological conglomerate Rakuten Group and the manufacturer of energy systems Hitachi Energy have expressed their interest.

As part of the conference, during a meeting with Denys Shmyhal, the Prime Minister of Ukraine, Yoshimasa Hayashi, the Minister for Foreign Affairs of Japan, announced “the Japan-Ukraine Conference for Promotion of Economic Reconstruction” to held late this year or early 2024. Mr. Hayashi also informed that, in order to gain further involvement of the private sector, Japan has recently established the Council on Preparation for Promotion of Ukraine’s Economic Reconstruction with the participation of all the relevant ministries and agencies. Japan intends to make use of its knowledge accumulated in the field of recovery and reconstruction, and to vigorously implement a uniquely Japanese form of reconstruction assistance in close contact with the Ukrainian people.

After the Conference, the Chamber of Commerce and Industry of Ukraine will hold UKRAINE RECOVERY BUSINESS DAY on June 23 in London, which is expected to be attended by about 200 top leaders of the business community. The event is aimed at establishing connections and cooperation between the private sector and investors from the United Kingdom, Europe and Ukraine.