This week, London will play host the Ukraine Recovery Conference 2023, to be held jointly by the UK and Ukraine.
The Conference is a continuation of the cycle of events in support of the process of reconstruction in Ukraine, following Russia’s war of aggression. The Conference is a political moment that will provide a clear demonstration of belief in Ukraine’s future.
Over 1,000 public and private sector leaders, representing 61 states, 31 international organisations, more than 400 businesses and 132 civil society organisations will take part, focusing on three themes: (i) the role and potential of the private sector; (ii) international support to enable private investment, including Ukraine’s reform programme; and (iii) supporting Ukraine to “build back better”.
As Ukraine enters its second year of defending itself against Russia’s invasion, it is more important than ever for the global community to come together to show the strength of support for Ukraine's recovery effort.
Ukraine’s reconstruction needs are immense and will require unprecedented collaboration between government, the private sector and international institutions. Ukraine will need to attract private investment at scale to rebuild its economy and win the peace, helping us to return to better global economic and security stability.
In its latest joint assessment, the World Bank calculates total recovery and reconstruction needs at $411bn, with $14bn required for priority reconstruction and recovery investments in 2023. That figure will rise as a result of the devastation caused by the 6 June destruction of the Kakhovka Dam.
We need to address the financial gap to ensure the Ukrainian Government can pay wages, repair houses, run schools and restore critical and social infrastructure. We must ensure humanitarian aid gets to those people who most need it. And where Ukraine liberates areas from Russian control, we must begin reconstruction wherever possible.
We must think about the long-term now or risk being behind the curve. Ukraine’s recovery and reconstruction offers huge opportunities for both Ukrainian and international partners, including in Thailand, to build Ukraine back stronger.
Mark Gooding OBE, British Ambassador to Thailand
Pavlo Orel, Chargé d'Affaires, Embassy of Ukraine in Thailand