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Gulf Press > World > Ukraine Recovery Conference commits to supporting energy infrastructure
World

Ukraine Recovery Conference commits to supporting energy infrastructure

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Last updated: 2024/06/14 at 1:34 AM
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The recent Ukraine Recovery Conference in Berlin, attended by United Nations Development Programme and World Bank representatives, focused on supporting Ukraine’s critical infrastructure ahead of a challenging winter. Ukrainian President Volodymyr Zelenskyy appealed for help in rebuilding and decentralizing the country’s energy infrastructure, which has been targeted by Russian attacks, leading to reports of potential energy shortages during the cold season. Nobel Peace Prize Laureate Oleksandra Matviichuk expressed concerns about Ukrainians facing a harsh winter without adequate heating, electricity, and other essential services.

Achim Steiner, administrator of UNDP, mentioned that the UN is assisting Ukraine in preparing for the winter by providing support for energy systems, power supplies, and installing generators in schools to mitigate electricity shortages. The organization has already helped reconnect over half a million Ukrainians to the grid, addressing a critical challenge caused by deliberate destruction of infrastructure. Access to electricity is crucial for survival, especially during the winter months, emphasizing the importance of international support in ensuring the country’s resilience.

The World Bank has pledged significant financial aid, committing at least €460 billion to assist Ukraine’s reconstruction efforts. Anna Bjerde, Chief Operating Officer of the World Bank, highlighted Ukraine’s potential in renewable energy sources and emphasized the importance of developing sustainable energy solutions for long-term benefits. Renewable energy has emerged as a key focus area, with discussions on hydrogen and strategies to support Ukrainian firms in decarbonizing their operations.

The Ukraine Recovery Conference saw the signing of over 110 international agreements, contracts, and memorandums, signaling strong global interest in investing in the country. These agreements, totaling over €16 billion in commitments and aid, include contributions such as the €1.4 billion investment component under the Ukraine Facility, €767 million energy assistance package from the US, and a €7 billion SME Resilience Alliance for Ukraine. Germany also announced additional military support for Ukraine, further solidifying international backing for the country amidst ongoing challenges.

Preceding the upcoming peace summit in Switzerland, the Ukraine Recovery Conference laid the groundwork for discussions on President Zelenskyy’s ten-point peace plan. Germany has played a pivotal role in supporting Ukraine, announcing additional military aid and emphasizing the significance of the summit as a step towards lasting peace in the region. The summit, set to take place from 15 to 16 June, aims to garner broad international support for Ukraine’s peace initiatives, showcasing solidarity from nearly 90 countries and organizations, despite the notable absence of Russia and other key nations.

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News Room June 14, 2024
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