Britain is ready to invest in projects to rebuild Ukraine
17 March 19:22
British investment funds and corporations are interested in participating in Ukraine’s reconstruction projects.
This was reported by the Ministry of Communities and Territories Development following a meeting between First Deputy Minister of Communities and Territories Development of Ukraine Alyona Shkrum and representatives of the British government and business, "Komersant Ukrainian" reports.
It is noted that during her working visit to the UK, the First Deputy Minister met with Stephen Doughty, Minister of State for Europe, North America and the Overseas Territories, Gareth Thomas, Minister of State for Services, Small Business and Exports, and Mike Kane, Minister of Aviation, Maritime Transport and Security.
“Great support from the UK and readiness to further establish cooperation to support the reconstruction. We are very grateful for this. British businesses are ready to join our projects and invest in Ukraine right now. This was discussed in particular during a meeting with more than 25 major investment funds and corporations listed on the London Stock Exchange,” Shkrum said.
According to her, the meeting focused on investments in reconstruction, transportation, and infrastructure projects.
Attention was also paid to the discussion of war risk insurance. The UK helped with war risk insurance for ships calling at the ports of Greater Odesa and other Ukrainian ports.
Separately, Shkrum met with Alex Sobel, the Government’s Commissioner for Trade with Ukraine, and British MPs. The discussion focused on the involvement of British businesses in infrastructure rehabilitation programs and public-private partnerships.
The UK is allocating £25 million to launch the SPIRIT program to support inclusive and sustainable social recovery in Ukraine.
How much will it cost to rebuild Ukraine?
According to rough estimates, rebuilding Ukraine after the war could cost €500 billion, Prime Minister Denys Shmyhal said during a joint meeting of the government and the European Commission.
The Ministry of Justice of Ukraine reported that in April 2024, victims of Russia’s aggression against Ukraine will be able to file an application with the International Register of Damages. It will accept applications “concerning losses and damage caused to individuals who lost their homes as a result of Russian aggression.”
As of February 24, 2025, the needs for the reconstruction of Ukraine amount to almost $486 billion. These are the results of the third damage and needs assessment (RDNA3) conducted by the Ukrainian government jointly with the World Bank.
