We stand with them UK throws weight behind £3.5bn package to rebuild post-war Ukraine

Ukraine: European leaders visit Kyiv

We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info

This comes ahead of the UK-Ukraine Infrastructure Summit, taking place in London tomorrow. The high level talks, centred around how the international community can help rebuild Ukraine after the war, will see representatives from Ukraine attend alongside key business leaders. Anne-Marie Trevelyan is expected to sign a Memorandum of Understanding (MoU) with Ukraine, confirming the UK’s support for future reconstruction efforts.

The MoU is also expected to recognise a new joint task force to help build partnerships between UK and Ukrainian businesses to assist the reconstruction of infrastructure in the country.

UK Export Finance, the UK’s export credit agency, has pledged to retain its £3.5 billion worth of financial support for trade to Ukraine.

The Government said this support will help the country fund its reconstruction projects and allow UK exporters and Ukrainian buyers to access the finance they need to trade commercially.

In a statement ahead of the Summit, Ms Trevelyan described the destruction of Kyiv as “heartwrenching”.

She added: “Throughout this, the great people of Ukraine have shown immeasurable strength and courage, and we stand with them in hope of a brighter future.

“That is why it is important to talk about a post-conflict Ukraine, and today we are making our commitment clear to help it rebuild in peace.

“Our world-class infrastructure and energy companies, along with businesses in fields like transport, healthcare, and agriculture are not just well-placed to support the immediate humanitarian response, they are in a strong position to play a part in Ukraine’s longer-term reconstruction too.

“Together, we can help Ukraine to build back better, stronger and greener.”

In May, the Kyiv School of Economics (KSE) revealed that Russia’s invasion of Ukraine is inflicting $4.5bn (£3.6bn) worth of damage to Ukraine’s infrastructure every week.

As of last month, the total amount of direct infrastructure damage was valued at $92bn (£73.7bn) since the invasion began on February 24, 2022.

At least 33,000 sq metres of residential buildings have suffered damage during the war, estimated to be worth almost $30bn (£24bn) in total.

More than 23,000km of road and 90,000 cars have been damaged or destroyed in the onslaught.

DON’T MISS: 
Putin’s panic as terrifying new Panther tank unleashed [INSIGHT] 
‘Hypochondriac’ Putin ‘obsessed with Botox’ for bloated face [REVEAL]
Chilling war warning as China threatens to ‘crush’ Taiwan independence [REPORT]

The KSE’s report said the loss of life, destruction of infrastructure and exodus of workers would severely impact Ukraine’s economy in the longer term, even if the war ends soon.

Mike Haigh, executive chair of Mott MacDonald, a consultancy firm involved in tomorrow’s summit, said: “Mott MacDonald is committed to supporting the reconstruction of Ukraine and will offer our best skills and expertise in buildings, energy, water, transport, programme management and health, to achieve this.

“For the past 30 years we have worked in collaborative partnerships in country to successfully deliver projects to improve the nation’s infrastructure.

“This effort and determination remain, and we stand ready to help the people of Ukraine rebuild their country, their cities and infrastructure, to restore their way of life.”

Meanwhile, Manuela Gatto, director of Zaha Hadid Architects, added: “Informed by the nation’s long history and unrelenting optimism in its future, our projects in Ukraine enrich the public realm and prioritise the environment.

“Working with the country’s local talent on its reconstruction, we hope to continue delivering architecture for the people of Ukraine that sets new benchmarks for innovation, resilience and efficiency.”

Source: Read Full Article