Kiev’s western allies pledged on Wednesday to increase financial aid to Ukraine’s economy, ravaged by more than a year of war, but warned Russia that it would ultimately have to pay for reconstruction.
While Ukraine recognizes that its counter-offensive, which is coming up against strong resistance from the Russian army, is not going as quickly as hoped, the conference for the reconstruction of Ukraine meets for two days in London more from 60 countries, international institutions and the private sector.
“We must move from a vision to agreements and from agreements to concrete projects”, immediately pleaded, by video, the Ukrainian President Volodymyr Zelensky at the opening of this event. “Every day of Russian aggression brings new ruins, thousands and thousands of homes destroyed, industries devastated, lives burned.”
The recovery of the Ukrainian economy was recently valued at $411 billion in a recent study by the World Bank, the UN, the European Union and the Ukrainian government. A sum expected to grow as the conflict continues.
“Let’s be clear: Russia is behind the destruction of Ukraine. And Russia will end up bearing the cost of rebuilding Ukraine,” US Secretary of State Antony Blinken said.
“The aggressor must be held responsible,” also said European Commission President Ursula von der Leyen.
“It is clear that Russia must pay for the destruction it has inflicted. This is why we are working with our allies to explore legal avenues for using Russian assets,” said British Prime Minister Rishi Sunak, whose country is one of Kiev’s most active supporters.
Ukrainian Prime Minister Denys Shmygal has called for using Russian assets frozen under sanctions to finance reconstruction. “Above all else, Russia must pay for what it destroyed,” he said.
“Prosper”
While waiting to materialize this legally delicate idea, kyiv’s allies have increased their financial aid to meet the immense needs.
Washington announced an additional $1.3 billion directed towards its infrastructure.
“It’s not just about Ukraine surviving, it’s about Ukraine prospering. And reconstruction is essential in this regard,” said Antony Blinken.
London has promised credit guarantees of up to three billion dollars over three years to finance Ukrainian public services and 240 million pounds (just over CA$400 million) in bilateral aid, intended in particular for mine clearance and humanitarian projects.
Berlin has released additional humanitarian aid of 381 million euros in 2023 (550 million $CA) and Paris 40 million euros (58 million $CA) for emergency reconstruction and medical equipment in particular.
On Tuesday, the European Commission proposed a 50 billion euro ($72 million CAD) aid package until 2027.
The London conference also seeks to mobilize the private sector, with the official launch of the “Ukraine Business compact”, an initiative inviting companies from all over the world to commit to supporting the reconstruction of Ukraine, alongside major institutions. global financials.
Ukraine, for its part, is seeking to convince its allies of its determination to continue, despite the conflict, the reforms undertaken in recent years and in particular to fight against long-endemic corruption.
Not a “Hollywood movie”
On the ground, the kyiv army is trying to regain the territories taken by the Russians since the start of the invasion of the country in February 2022.
But in a BBC interview, Volodymyr Zelensky admitted that the progress of this offensive was “slower than desired”. “Some people think it’s a Hollywood movie and expect results now. This is not the case “.
“We will advance on the battlefield in the way we deem best,” the president added.
About 30 kilometers from the front line in eastern Ukraine, AFP met locals rebuilding their homes damaged by Russian missiles.
“Restoring the houses to be able to shelter from the rain and live there will take a week,” said Bogdan, a volunteer with the Kramatorsk Association of Volunteers. “But for a complete repair, (it will take, editor’s note) a year, or two, or three”.