Ukraine Recovery Conference 2023 aims to kickstart post-war reconstruction

By Burak Bir

LONDON (AA) – The Ukraine Recovery Conference 2023 (URC 2023) is expected to bring together a wide range of stakeholders to London to help mobilize financial and political support for the country’s post-war recovery.

Six years after the first edition of the annual event was organized as the Ukraine Reform Conference, leaders and officials will come together as the Russia-Ukraine war drags into its 17th month.

Last year’s conference in Lugano, Switzerland laid the foundation for Ukraine’s post-war “reconstruction process” and united its allies in those efforts.

This year’s talks, jointly organized by the UK and Ukraine on June 21-22, will particularly focus on international support from both the public and private sectors.

“URC 2023 will focus on mobilizing international support for Ukraine’s economic and social stabilization and recovery from the effects of war, including through emergency assistance for immediate needs and financing private sector participation in the reconstruction process,” according to the URC website.

Representatives from at least 61 countries, including 40 at the ministerial level, are expected to attend the conference, which aims to welcome some 1,000 participants.

As of April, damage caused to Ukraine’s infrastructure due to the war stood at $147.5 billion, the Kyiv School of Economics said in May.

According to latest UN figures, there have been 24,862 civilian casualties in the country since February 2022 – 9,083 killed and 15,779 injured.

- Unity, diversity, delivery

The priority is to ensure that real and measurable changes are delivered for Ukraine, according to the URC website.

The organizers have outlined unity, diversity and delivery as three key objectives, which demonstrate the continued “strength and breadth of international support” for Ukraine, bringing together a diverse range of actors and displaying “how support and expertise from the international community, private sector and civil society can help Ukraine build back better.”

Regarding the recovery process, the conference is targeting advanced private sector participation, especially in specific fields such as green energy and digitalization.

“A focus on specific sectors – such as tech, logistics and transport corridors, green energy, natural resources, infrastructure reconstruction, digitalization, agriculture and food, health and pharmaceutics – will enable Ukraine to highlight investment opportunities and encourage future partnerships and areas of cooperation,” reads the website.

Reform and governance are other top items on the agenda.

“URC 2023 will discuss and support the priority reforms Ukraine should implement to improve the business climate for investment and help Ukraine meet the standard required for EU accession,” it added.

- ‘Immense’ reconstruction needs

In a statement last week, Neil Holland, head of the UK delegation to the Organization for Security and Co-operation in Europe (OSCE), said this year’s event will not be “a pledging conference.”

“We want the conference to result in a new business compact; new fiscal support; an announcement of plans for an EBRD (European Bank for Reconstruction and Development) capital increase to pave the way for increased investment; a framework for progress on war risk insurance; a pronouncement of Ukraine’s reform plans; a showcase of tech partnership opportunities; and a G7+ green energy initiative to support longer-term transition,” he said.

He said Ukraine’s “immense” reconstruction needs require “unprecedented collaboration,” adding the conference will “help secure for Ukraine a more modern, open, and resilient economic future.”

Britain’s King Charles III and Ukraine’s first lady Olena Zelenska will host receptions for senior heads of delegations.