Reconstruction of Ukraine: Westerners promise to pay Russia – 06/21/2023 at 21:02

Kiev’s Western allies on Wednesday pledged to increase financial aid to Ukraine’s economy, which has been ravaged by more than a year of war, but warned Russia that it will eventually have to pay for reconstruction.

The reconstruction conference in London brings together more than 60 countries for two days, international organizations and the private sector, while Ukraine acknowledges that its counteroffensive, coming against strong resistance from the Russian military, has not gone as quickly as hoped. .

Speaking via video conference, Ukrainian President Volodymyr Zelensky called for “concrete plans”: “Every day of the Russian occupation brings new ruins, thousands and thousands of houses are destroyed, factories are destroyed, lives are burned”.

A recent study by the World Bank, the UN, the European Union and the Ukrainian government estimated the recovery of the Ukrainian economy at $411 billion.

A number will grow as the conflict continues, most notably the destruction of the Khakovka hydroelectric dam in Russian-controlled territory in early June, causing massive flooding.

Kyiv estimates environmental damage at $1.5 billion, “not counting losses related to agriculture, infrastructure, housing or the costs of rebuilding the plant,” Prime Minister Denis Simikel said.

“Let’s be clear: Russia caused the destruction of Ukraine. Russia will ultimately bear the cost of rebuilding Ukraine,” said US Secretary of State Anthony Blinken.

“The aggressor must be held accountable,” European Commission President Ursula van der Leyen said as EU member states agreed to an eleventh round of sanctions against Russia on Wednesday.

British Prime Minister Rishi Sunak said he was working with his allies on the possibility of using frozen Russian assets.

– billion euros –

While waiting to implement this delicate idea legally, Kyiv’s partners have increased their financial support to meet the enormous needs.

Notably, Washington released an additional $1.3 billion. London has pledged three billion dollars over three years and 240 million pounds (280 million euros) in bilateral aid to Ukrainian public services, specifically earmarked for demining and humanitarian projects.

Paris has released 40 million euros specifically for emergency reconstruction and medical equipment.

On Tuesday, the European Commission proposed an aid package of 50 billion euros until 2027.

The European Bank for Reconstruction and Development (EBRD) announced at the conference 600 million euros in loans and grants, in collaboration with international donors, for energy projects in the country.

The conference also aims to mobilize the private sector. A mechanism to guarantee private investment in Ukraine is being discussed by the G7 powers and will be set up by Paris for French companies.

– Putin “King of Anti-Semitism” –

“We have come together to send a very clear message: we have confidence in Ukraine’s future,” said British Foreign Minister James brilliantly.

Ukraine, for its part, is seeking to convince its allies of its commitment to the reforms undertaken in recent years, despite the conflict, and particularly to the fight against long-standing corruption.

On the ground, Kyiv’s military has been trying to retake territories captured by the Russians since the invasion of the country began in February 2022.

In a BBC interview, Volodymyr Zelensky admitted that progress on the offensive was “slower than desired”. “Some people think it’s a Hollywood movie and expect results now. It’s not.”

Mr Zelensky, who is Jewish, reacted emotionally to comments by Vladimir Putin, who said Ukraine was in the hands of “neo-Nazis” who were persecuting Russian-speakers, and in mid-June privately called it a “disgrace to the Jewish people”. .

“It’s like he doesn’t really understand what he’s saying,” commented Ukraine’s president. “I’m sorry, but he’s like the second czar of anti-Semitism after Hitler,” he added.