Ukrainian premier hails launch of business compact initiative by UK

By Burak Bir

LONDON (AA) — Ukrainian Prime Minister Denys Shmyhal met with his British counterpart Rishi Sunak on Wednesday to thank the UK for launching the Ukraine Business Compact.

The British and Ukrainian premiers met in London as part of the two-day Ukraine Recovery Conference.

After thanking Sunak for organizing the conference, Shmyhal said Ukraine welcomed the initiative that has already recruited more than 400 companies worldwide.

"Appreciate the strong support of the UK in all areas. United in defense - united in recovery," he said on Twitter.

According to the UK government, over 400 companies from 38 nations, with a combined annual revenue of over $1.6 trillion, pledged to back Ukraine's recovery and reconstruction in the wake of its war with Russia.

"Major conglomerates, international corporations, and retail chains are among those who have signed up to the Ukraine Business Compact, spearheaded by the UK, as part of the two-day conference. Virgin, Sanofi, Philips, Hyundai Engineering, and Citi are among the companies involved," said a statement by the British government ahead of the conference.

Along with a wide range of bilateral talks, the Ukrainian premier also met with Odile Renaud-Basso, head of the European Bank for Reconstruction and Development (EBRD), on the sidelines of the conference.

During the meeting, Ukraine, the EBRD, and Ukrainian energy companies Naftogaz, Ukrenergo, and Ukrhydroenergo, signed a memorandum that "will make it possible to attract additional financing for state-owned energy companies. Grateful to our partners for their timely decisions," said Shmyhal.