Ambassador Neil Holland says that the recent Ukraine Recovery Conference in London shows that Ukraine will emerge stronger and more prosperous with international support.
Thank you, Mr Chair, and thank you to Minister Strilets for addressing us today and giving more detail on the terrible effects of the collapse of Kakhovka dam. The UK stands ready to assist Ukraine in recovering from this catastrophe.
This week, alongside our Ukrainian friends, we have been honoured to co-host the 2023 Ukraine Recovery Conference in London. We welcomed the Secretary General’s participation.
It is worth reflecting on the context of this conference. Russia’s illegal invasion of Ukraine has devastated lives and livelihoods throughout the country. Schools, hospitals, and homes have all been destroyed; entire cities reduced to rubble; energy infrastructure mercilessly targeted; millions of innocent lives shattered. Yet despite this unimaginable hardship, the resilience of the Ukrainian people, and their determination to defend and rebuild their homeland, is undimmed.
The scale of the destruction Russia has wrought is truly shocking. The World Bank assessment estimated the cost of rebuilding Ukraine at $411 billion. A number growing by the day. This challenge requires innovative thinking, as well as unprecedented collaboration between governments, the private sector, international institutions and civil society. We cannot afford to wait until Ukraine has won this war to begin the process of rebuilding the country. While we will continue to provide Ukraine with immediate support, we must also think about the long term to ensure Ukraine can emerge stronger and more prosperous.
That is why more than 1000 public and private sector leaders, representing 61 states, 31 international organisations, over 400 businesses and 132 civil society organisations gathered in London yesterday and today to underline our joint commitment to Ukraine’s recovery. Such a broad coalition demonstrates our united belief in Ukraine’s future. As announced by my Prime Minister, the UK stands ready to unlock $3bn through World Bank guarantees over the next four years, as well as providing £240m of UK bilateral assistance for Ukraine’s immediate recovery and reconstruction needs for this year.
The Conference showcased the strength and potential of the private sector in supporting Ukraine to “build back better”, working alongside governments, international organisations and civil society. A new Business Compact, announced at the Conference, signals the intention of global business to support Ukraine’s recovery.
Ukraine’s security and its economic prosperity are mutually reinforcing. As my Prime Minister said when he opened the conference alongside President Zelenskyy, “What Russia cannot take; it will seek to destroy. Russia wants to do the same to Ukraine’s economy. And the scale of the challenge is real”.
Mr Chair, the UK and international partners will remain unwavering in our support for Ukraine. The Ukrainian people have already shown they can win the war. Ukraine’s recovery will show President Putin that his attempts to destroy Ukraine will only produce a stronger, more prosperous and more united European nation. Photo by British Government, Wikimedia commons.