The 2023 Ukraine Recovery Conference (URC23) in London on 21-22 June, was a continuation of the cycle of meetings beginning in London in 2017 as the Ukraine Reform Conference.
Initially set up as a high-level international event for benchmarking progress on the reforms agenda, today the Ukraine Recovery Conference (URC) represents the central forum for the international community to support Ukraine in its recovery and reconstruction efforts in the face of Russian aggression and the immense scale of damage and loss inflicted upon Ukraine resulting from the Russian invasion. Contributing to immediate recovery and longer-term reconstruction efforts in support of building Ukraine’s prosperity is an essential component for a just and lasting peace.
The United Kingdom co-hosted with Ukraine, the Ukraine Recovery Conference 2023. The conference focussed on action to help Ukraine build back better, greener and as a more resilient and prosperous European nation. In particular, URC 2023 aimed to generate greater momentum on the role of the private sector – and the reforms required to drive investment – as essential elements for Ukraine’s long-term recovery.
This session set the scene for the conference, setting out the role of the private sector to mobilise investment at the scale needed to support Ukraine to “build back better”. It focussed on the role of governments and international financial institutions as the enablers of investment and promoted the URC as a vehicle for Ukraine to secure support for its immediate recovery needs.
Prime Minister Sunak and President Zelenskyy opened the URC 2023 by welcoming governments, International financial Institutions, businesses and civil society to London. After nearly 18 months of Ukraine living under a full-scale Russian bombardment, the URC was a key moment for the global community to come together to show the strength of support and unity for Ukraine's recovery effort.
Focus on the short-term solutions and challenges to Ukraine’s early recovery (and immediate) needs – with read across to the World Bank’s Rapid Damage and Needs Assessment
Focus on longer-term challenges, recovery needs and specific projects that need to be financed to progress Ukraine’s recovery, across all sectors. Given risks faced by private investors, this session focussed on measures to de-risk and crowd in private finance.