The Ukrainian Recovery Conference (URC2024) ended on June 12, held under the motto «United in defense. United in the second half. Together we create strength.” URC2024 was the continuation of an annual series of high-level political events dedicated to rapid recovery and long-term reconstruction of Ukraine, in which governments, international organizations, financial institutions, businesses, regions, municipalities and civil society did not fail to participate. There were approximately 3,400 participants in what was the first conference of its kind hosted in an EU Member State. In the spirit of Ukraine’s reform conferences held since 2022, URC2024 also presented Ukraine’s reform progress in the context of its economic resilience and EU accession process. Among those present were the heads of state and government of 77 countries, as well as around 500 companies: of these, 150 were German, 150 Ukrainian, and more than 200 from other participating countries. In short, while on the one hand we contribute to the war with every economic and material means, companies and governments organize themselves to profit from the destruction of Ukraine after the end of the conflict, which for the moment still seems distant.
The main objective of URC2024 was to mobilize continued international support for the recovery, reconstruction, reform and modernization of Ukraine. This includes providing emergency assistance for immediate needs, implementing rapid recovery projects and creating attractive conditions for businesses to unlock private sector investment in Ukraine and for civil society to actively engage in the process of reconstruction. URC2024 focused on four macro areas. The first is defined “Entrepreneurial dimension – Mobilizing the private sector for economic reconstruction and growth”, so on the meeting website it is specified: «For the success of reconstruction and economic growth, we need a strong commitment from the private sector. To facilitate investment in Ukraine, both locally and internationally, it is important to strengthen trust in the Ukrainian business environment, present success stories and signal long-term political support. Important issues include business opportunities in key sectors of the Ukrainian economy, state support tools, international support in access to finance, and the green and digital transition.” The second macro-area is defined as “Human dimension – Social recovery and human capital for the future of Ukraine”, the third “Local and regional dimension – Recovery of municipalities and regions, while the fourth is called “EU dimension – EU accession and related reforms”. Regarding this last point it is said: «EU membership is an enabling process for economic growth, investment security and the sustainable recovery of a competitive economy. It also supports stable political institutions and guarantees human rights and the rule of law, as well as functioning public service institutions.”
During the conference we therefore talked about security, energy, critical infrastructure, housing, climate action, green recovery, healthcare, education and the environment. URC2024 was prepared jointly with international partners through a series of pre-events called “Road to URC2024”, which included civil society consultations on each of the four macro-areas mentioned above. The Multi-Agency Donor Coordination Platform in Support of Ukraine bringing together 30 partners, including donors and international financial institutions, met at ministerial level for the first time. Members adopted a joint statement reaffirming their commitment to promoting robust assistance and effective channels for its coordination. On the occasion Over 110 agreements have been signedincluding a dozen chords business-to-business, for a value exceeding 16 billion euros, some of which will be financed through new commitments under the EU Facility for Ukraine. URC2024 provided a forum for business representatives to seize new opportunities, announce new collaborations and strengthen existing partnerships. With the support of its international partners, the forum presented a comprehensive set of measures and incentives aimed at facilitating and de-risking investment and trade under the current circumstances. These measures include guarantees from the G7 countries and the EU, policy insurance instruments, commercial reinsurance projects, state-sponsored programs for investment support, simplified processes for construction and infrastructure projects, long-term real estate financing, tax incentives and access to affordable project financing. Furthermore, URC2024 highlighted what would be best practices for government support, guarantee tools and access to finance with the aim of mobilizing more actors.
During the Berlin conference, the importance of future reforms aimed at improving the business environment, so as to integrate European standards, was underlined as the country begins negotiations for EU membership. Furthermore, Germany has created an investor guide to promote international private sector activities in Ukraine. Following a German-American initiative in the context of the Multi-Agency Donor Coordination Platform, a Business Advisory Council dedicated to supporting the first macro-area was launched, i.e. the one charged with promoting private sector engagement in the recovery and reconstruction of the ‘Ukraine. Additionally, Ukraine and Germany, together with 31 international partners, launched an SME Resilience Project to align policies, strengthen institutions and improve access to finance for small and medium-sized enterprises in Ukraine.
In short, while the war rages and at the moment there does not seem to be any glimmer of hope for its conclusion, as the diplomatic component has completely disappeared, and indeed every attempt is being made to raise the levels of the conflict, theThe West organizes its public-private structures for unlimited support for Ukraine and its future reconstruction, although it is not known when this will happen and to what extent it can be done. Furthermore, despite the country being at war, despite corruption being at very high levels and despite the neo-Nazi component still being strong, and even legitimised, there is talk of wanting Ukraine to join the European Union. A beautiful picture that demonstrates how the European political classes are, in addition to being totally subordinate to US power, also quite short-sighted.
[di Michele Manfrin]
