We invite you to read the seventh Ukraine Rebuilding Digest with an overview of the recovery news from the Ukraine Rebuilding Alliance for 6—12 May.
Shmyhal and Schulze coordinate work ahead of Recovery Conference
Prime Minister of Ukraine Denys Shmyhal and Federal Minister for Economic Cooperation and Development of Germany Svenja Schulze have coordinated their work ahead of the Recovery Conference scheduled for early summer in Berlin.
During the meeting, the parties discussed the implementation of joint projects. Shmyhal noted the productive cooperation with the German Credit Institution for Reconstruction (KfW) and thanked them for their support of small and medium-sized enterprises. He stressed the particular importance of the private sector in Ukraine’s recovery.
According to the Prime Minister, there are currently seven investment projects with KfW totalling more than €311 million.
Rada dismisses Oleksandr Kubrakov as Vice Prime Minister for Ukraine’s recovery
The Verkhovna Rada of Ukraine has dismissed Oleksandr Kubrakov from the post of Vice Prime Minister for Reconstruction of Ukraine – Minister of Development of Communities, Territories and Infrastructure of Ukraine. The decision was made on 9 May with the support of 272 MPs, MP Yaroslav Zheleznyak said.
It is noted that Oleksandr Kubrakov himself was not present in the hall during the voting, as well as the Prime Minister, and the person temporarily appointed to fill the post remained unclear.
Germany to provide Ukraine with €45 million for energy recovery
Germany will provide Ukraine with a €45 million grant to rebuild its energy infrastructure after Russia’s attacks. The agreement was signed during a meeting between Ukrainian Energy Minister Herman Galushchenko and German Minister for Economic Cooperation and Development Svenja Schulze. The financing will be provided by the German bank KfW.
Minister of Energy of Ukraine Herman Galushchenko said: ‘It is very important for us that these funds can be used to restore and strengthen the resilience of the energy system facilities that have suffered from enemy attacks.’
The press service of the Ministry of Energy of Ukraine clarified that the money will also be used to purchase equipment for the modernisation, automation and reconstruction of Ukrenergo’s substations.
Belgium allocates €9 million to restore Ukraine’s energy infrastructure
Belgium is supporting Ukraine with another important initiative by allocating €9 million to rebuild Ukraine’s damaged energy infrastructure. Minister of Development Cooperation Caroline Hennesse noted that Ukraine’s energy infrastructure remains centralised and vulnerable, so it is important to develop sustainable and decentralised energy sources.
Belgium, through the United Nations Development Programme, is channelling these funds to rebuild the energy infrastructure near Kharkiv, which is currently under daily shelling by the Russian army. This assistance, together with military support, will contribute to strengthening Ukraine’s resilience.
The funds will be used to support projects under the United Nations Development Programme, which specialises in economic development. Already after the Russian invasion of Ukraine began, this programme provided the first electric generators and then supplied spare parts and equipment to repair the energy infrastructure damaged by shelling.
The UK is providing €23 million to rebuild Ukraine’s energy sector
The United Kingdom continues its support for Ukraine with the announcement of an additional £20 million contribution to the Energy Support Fund, which is approximately €23 million. The funds will be used to purchase equipment to repair damaged energy infrastructure, strengthen physical protection and provide backup power, including generators and distributed generation.
Minister of Energy of Ukraine Herman Galushchenko expressed his gratitude to the UK Government for this important support. He stressed that the assistance of partners is crucial to carry out repairs, restore damaged facilities and increase manoeuvring capacities for the next heating season.
The new grant complements the UK’s previous contribution of €50 million. The total amount of contributions to the Fund now stands at over €433 million, an important step in supporting Ukraine’s energy security.
How to convince investors to invest in Ukraine even now
The Kyiv Investment Day forum provided a platform for discussing key issues related to attracting private investment in Ukraine’s post-war recovery. The forum participants discussed the need to reform the legal environment, upgrade state institutions, and develop incentive and compensation mechanisms for investors.
The main task was to identify available lending and insurance instruments to support investment projects. They also discussed the need to promote the interests of Ukraine’s reconstruction in the international arena, focusing on the benefits for the investor.
This forum has become an important initiative for cooperation between government agencies, business, international organisations and experts in the efforts to rebuild Ukraine after the war.
Rebuilding Ukraine: an intergenerational task for young people in Ukraine and Europe
During the roundtable discussion ‘Youth, Ukraine, Europe: Resilience, Recovery and Rebuilding’, different views were expressed on the role of youth in rebuilding the country. The events organised by the Council of Europe in cooperation with Ukrainian ministries were important steps in this direction.
Ukrainian youth was identified as a key factor in strengthening civil society and participation in democratic processes. The role of youth organisations and activists in this context is recognised as essential.
The signing of the Letter of Intent between the Council of Europe’s Department of Youth and the Ukrainian Youth Foundation is an important step in the development of a national mechanism to support youth initiatives and organisations.
