Can a Recovery Conference boost Ukraine’s economy?

A conference aimed at strengthening Ukraine’s economy is being held in London on June 21-22.

British Prime Minister Rishi Sunak will try to convince businesses to invest in Ukraine, as will the US Secretary of State Antony Blinken and European Commission President Ursula Von der Leyen.

zelenskyy-and-sunak
© Via Reuters

Ukrainian leader Volodymyr Zelenskyy will participate virtually.

Ukraine Recovery Conference

“A financially stronger, technologically advanced Ukraine will bolster its ability to drive Russia back behind its borders,” Sunak will tell dignitaries and company bosses at the Ukraine Recovery Conference, according to a statement from Downing Street.

The statement added that a new digital platform will be launched to connect Ukrainian and international companies to aid collaboration and that a 10 million pound fund will back low-carbon energy ideas in Ukraine.

So far, the US has given billions of dollars worth of weapons and humanitarian aid to Ukraine, and the UK and other allies have also contributed. The UK recently delivered ‘Storm Shadow’ missiles, which could hit targets hundreds of kilometers away.

The war rages on

Ukraine’s counter-offensive in Donetsk and Luhansk provinces, and the southeast region of Zaporizhzhia, has not resulted in reclamation of territory so far.

Meanwhile, Russia has targeted Ukraine’s military infrastructure and other assets, including Kyiv, the capital.

(With inputs from Reuters)