Question to the Foreign, Commonwealth & Development Office:

To ask His Majesty's Government what plans they have to drive private sector investment into Ukraine’s economy.

The UK recognises that private sector investment is critical for Ukraine's economic recovery. To de-risk investment, the UK will continue to support war risk insurance through partnerships with the Multilateral Investment Guarantee Agency and the European Bank for Reconstruction and Development. The UK is leveraging its world-class insurance industry to explore ways to make insurance in Ukraine more accessible and affordable and is supporting the Government of Ukraine-led insurance task force working with industry to address barriers to trade and investment.

British Investment International has committed to invest £30 million to support trade flows of critical goods and is actively pursuing further investments in Ukraine, up to a total of £250 million. Through the UK-Ukraine TechBridge and InnovateUkraine challenge fund we are expanding opportunities for UK and Ukrainian partnerships across multiple sectors.

The Department for Business and Trade has delivered five defence trade missions to Ukraine since the full-scale invasion, supporting the development of long-term cooperation and investment, working closely with the Ministry of Defence's Taskforce HIRST. Trade Envoy Alex Sobel plays a crucial role engaging with UK and Ukrainian businesses to foster trade and industrial partnerships to support the recovery of Ukraine.