Ukraine Recovery Conference

Geoffrey Clifton-Brown Excerpts

Thursday 22nd June 2023 Commons Chamber

[Leo Docherty]

The Department will keep colleagues informed through oral and written statements. The hon. Gentleman is correct that public capital is a small component; we are trying to create an environment where global private capital can flow into Ukraine to drive development and long-term sustainable growth. The de-risking of that is a key condition in which the London insurance market will be central.

[Sir Geoffrey Clifton-Brown (The Cotswolds) (Con)]

Our Government deserve great credit for the military and non-military support—£470 million has been given. The World Bank estimated in March that the total rebuilding of Ukraine was likely to cost in excess of £411 billion—that was before the destruction of the Kakhovka dam. Did my hon. Friend detect at yesterday’s conference a willingness among the world’s wealthier nations that for one reason or another have not felt able to participate in the military effort to participate generously in the efforts to rebuild Ukraine?

[Leo Docherty]

That is a relevant question. I think that there is that appetite. The sheer scale of the economic and financial heft of G7 and non-G7 nations there left us full of confidence that our resolute military effort across allied nations will be matched by global capital.