Ukraine Recovery Conference

Lord Peach Excerpts

Monday 15th May 2023 Lords Chamber

[Lord Ahmad of Wimbledon (Con)]

On my noble friend’s second question—and I thank her for her strong support of the Government’s position—ultimately His Majesty’s Treasury will lead on this issue. The proceeds from the sale of Chelsea FC are frozen in a UK bank account, as she said. Humanitarian experts outside government are responsible for the highly complex process of establishing a foundation to manage and distribute the proceeds. I take on board her suggestion about the importance of perhaps moving forward on this at the time of the conference. I cannot give a specific assurance at this time, but I will share her concerns and suggestions with my colleagues at the Treasury.

[Lord Peach (CB)]

My Lords, does the Minister accept that we must not repeat the mistakes we made in the recovery and reconstruction phase in Iraq and that we must now, with the Ukrainians, focus on recovery and reconstruction as part of their war effort? As we heard in answer to an earlier question, it appears that Mr Putin, the President of Russia, is preparing for a long war; we must do the same. Does the Minister accept that the Ukrainian people’s sacrifice means that they deserve full attention to be given to recovery and reconstruction?

[Lord Ahmad of Wimbledon (Con)]

The insights provided by the noble and gallant Lord are most welcome. We need to capture and leverage the insights and experience of your Lordships’ House to ensure that our Ukrainian friends get a clear and unequivocal message: we stand with you in all sectors. The Ukraine Recovery Conference, which we are hosting in London, is an opportunity for not just government or parliamentarians but the private sector to ensure that the required money can help now to start rebuilding the lives of Ukrainians around the whole of Ukraine. There are things happening in parallel with this, but I assure the noble and gallant Lord that we are fully focused on this important priority as well.