In London, the largest event for the reconstruction of Ukraine, URC-2023, took place, already dubbed as another form of counteroffensive in Europe. Measures aimed at strengthening the economy and strategic planning for further support. URC-2023 is recognized as one of the most successful conferences for the financial and strategic recovery of Ukraine.
Conference in London
Several countries also pledged additional assistance in terms of weaponry. Latvia will provide helicopters. Germany will contribute Patriot missiles and special equipment, while Estonia and Iceland will offer a field hospital, equipment for paramedics, and anti-drone tools. However, the main focus of the conference was on the billions of dollars and euros in aid, requiring serious anti-corruption measures. To secure support from international partners, Ukraine must take steps towards reforms.
Prior to the conference, G7 set clear deadlines for Ukraine. By September 30, the country must restore declaration and public access to the declaration register. Ukraine has to ensure transparency in the reporting of political parties, and support NABU and SAP.
Financial aid for Ukraine
The London conference became pivotal in terms of financial support. Ukraine will receive 18 billion euros in 2023, and the overall needs of the country until 2027 are estimated at 110 billion euros, with the London conference providing 60 billion euros. The funds include grants, credits, and frozen Russian assets.
The European Commission promises 50 billion euros over the next four years, emphasizing that this constitutes European investments. The President of the European Commission stated that Ukraine will become a member of the EU. But this requires reforms and the implementation of recommendations.
The special financing tool, Ukraine Facility, will provide 50 billion euros for financial stability, reconstruction, and modernization of infrastructure.
These funds are directed towards the development of the legal system and the fight against corruption. Statements from partners, particularly the EU, underscore the necessity of parallel implementation of anti-corruption measures to receive support.
In addition to the EU, the United States, the United Kingdom, and other countries are also providing significant assistance to Ukraine for various needs, including energy and infrastructure.