Ukraine’s President, Volodymyr Zelenskyy, has revealed that he expects to secure billions of euros in agreements at the Ukraine Recovery Conference in Berlin.
The two-day Ukraine recovery conference started in Berlin on Tuesday, June 11, 2024.
As Zelenskyy arrived in Germany to take part in the Ukraine Recovery Conference and meet with German Chancellor Olaf Scholz, he said that said measures concerning Ukraine’s energy sector, damaged by Russian air attacks, would be the priority.
Also to be discussed are the issue of continued military support, including air defences and joint manufacture of munitions, as well as the coordination of positions ahead of the peace summit to be hosted by Switzerland later in the week.
“We will leave this conference with agreements for billions of euros for our defence, regarding the production of military equipment and weapons in Ukraine, and for our energy, for repairing and building new and more modern energy system.”
Volodymyr Zelenskyy
Zelenskyy also said that he expects some funding to go towards education needs, rebuilding homes, and supplying medical equipment.
The conference will include the launch of 95 investment projects for which it is hoped western funding will be secured, as well as a range of reform targets.
The country’s future accession to the EU will also be discussed, in what organisers have referred to as a “fourth dimension” of the conference agenda.
Hosted by the German Chancellor, Olaf Scholz, attendees are to include a range of senior international diplomats and foreign ministers, from Dmytro Kuleba of Ukraine to the UK’s David Cameron.
Several Ukrainian mayors from big cities including Kyiv and Lviv are expected to attend.
Zelenskyy said at the conference that Ukraine has a plan to build 1 gigawatt of gas-fired energy generation this year and four GW in the coming years.
He disclosed that Russia’s bombardments had knocked out 9 GW of Ukrainian generating capacity since Moscow intensified its airstrikes in March, adding that Ukraine’s consumption was at about 18 GW last winter.
Speaking about the two-day Ukraine recovery conference, Germany’s Foreign Minister, Annalena Baerbock, noted that it will pave the way for Ukraine to join the EU.
The European Commission recommended last year that formal accession talks begin with Ukraine and Moldova.
“We stand together and united,” Baerbock said in light of ongoing Russian attacks.
She added that this applies to the recovery of Ukraine as well as its way into the EU.
Declaration Of Intent Signed Between Finance Ministries Of Ukraine And Germany
Also on Tuesday, the Finance Ministries of Ukraine and Germany signed a joint Declaration of Intent to bolster bilateral cooperation to support Ukraine’s reconstruction after the war.
Germany’s Finance Minister, Christian Lindner, said, “We are not limiting ourselves to the form of support that Ukraine needs to win the war.”
“We want to contribute now so that Ukraine can set the course for future growth through its reconstruction.
“This is not just about financial resources, but also about building institutional capacities to support private companies in Ukraine and promote investment.”
Christian Lindner
The declaration does not constitute a treaty and does not create rights or obligations under international law.
Germany’s finance ministry has tasked the KfW Development Bank with assessing the feasibility of a project involving financing consultancy to support Ukraine’s finance ministry.
The project could also support the Business Development Fund, to make it an independent state financing institution focused on Ukrainian small and medium-sized enterprises (SMEs).
The capacity development project will be financed by the German finance ministry and the KfW will oversee implementation.
The partners expect to sign the underlying agreements by the end of the year from which point it will take effect.
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