Germany and Ukraine have signed a joint declaration of intent to strengthen bilateral cooperation in business support during the Ukraine Recovery Conference 2024 in Berlin. The declaration aims to enhance capacity building and corporate reform of the German-Ukrainian Business Development Fund. German Finance Minister Christian Lindner emphasized that the support is not limited to immediate assistance but also aims to help Ukraine set the course for future growth through reconstruction. The cost of Ukraine’s post-war recovery and reconstruction is estimated to be $486 billion, according to the World Bank. The support includes building institutional capacity to support Ukraine’s private companies and facilitate investment, as outlined in the joint declaration.
Additionally, Kyiv and Berlin signed a joint declaration on capacity development support for institutional development coordinated through the German Development Bank KfW. Ukrainian Finance Minister Sergii Marchenko highlighted that support from KfW enables the provision of affordable financing to Ukrainian businesses, which is crucial for economic recovery amidst the ongoing war with Russia. President Volodymyr Zelensky appealed for allied help to restore energy facilities damaged by Russia before winter, requesting equipment from shut down power plants and direct financial support to preserve normal life in Ukraine. The joint efforts between Germany and Ukraine aim to address the urgent needs of reconstruction and recovery in Ukraine.
The Ukraine Recovery Conference 2024 in Berlin brought together government officials, companies, and organizations to discuss Kyiv’s ongoing reconstruction needs, particularly in energy infrastructure. The conference serves as a platform for international collaboration and support for Ukraine’s recovery efforts post-war. The joint declaration signed between Germany and Ukraine underscores the commitment of both countries to strengthen bilateral cooperation in business support and facilitate investment in Ukraine’s private companies. The declaration aims to contribute to capacity building, corporate reform, and institutional development to support Ukraine’s economic growth and reconstruction in the long term.
President Zelensky’s appeal for allied help to restore energy facilities damaged by Russia highlights the pressing need for immediate support to maintain normal life in Ukraine. The request for equipment from shutdown power plants and direct financial support underscores the urgency of the situation and the critical role of international allies in assisting Ukraine during this challenging time. The joint efforts between Germany and Ukraine, as outlined in the signed declaration, showcase a collaborative approach to address the reconstruction and recovery needs of Ukraine in the aftermath of the war with Russia. The support provided by Germany, through initiatives such as the German-Ukrainian Business Development Fund and KfW, demonstrates a commitment to assisting Ukraine in its path towards economic recovery and growth.
The joint declaration of intent signed between Ukraine and Germany represents a significant step towards strengthening bilateral cooperation in business support and facilitating investment in Ukraine’s private companies. The declaration aligns with the broader goals of the Ukraine Recovery Conference 2024 in Berlin, which aims to address Kyiv’s urgent needs in reconstruction and recovery, particularly in energy infrastructure. The commitment to capacity building, corporate reform, and institutional development outlined in the declaration underscores the long-term vision of supporting Ukraine’s economic growth and reconstruction efforts. The appeal by President Zelensky for allied help to restore energy facilities damaged by Russia further emphasizes the importance of international collaboration in providing immediate assistance to Ukraine during this challenging period.
