Ukraine invites India to become stakeholder in its reconstruction

Ukraine invites India to become stakeholder in its reconstruction

In the wake of the unprecedented destruction of infrastructure in Ukraine in the ongoing conflict with Russia, the Ukrainian envoy to the Vibrant Gujarat Global Summit 2024 urged India to participate in joint investment projects in demining, engineering, aircraft manufacturing, IT and sea ports developments in war-ravaged country.

Yuliia SVYRYDENKO, the first Deputy Prime Minister of Ukraine, complimented India for its high impact community development projects. She said, “The Ukrainian government is working 24×7 to put in place the necessary reforms to speed up the recovery of the devastated Ukrainian infrastructure and economy. “

He further said, “Ukraine’s recovery vision is focused on strategic sectors with high multiplier effect and on building new cross-regional value chains. Ukraine has structural competitive advantage in high-quality low-cost iron ore, clean and low-cost energy sources and strong human capital. We also have a competitive position in the titanium upstream and midstream value chain.”

He also invited India to invest in the demining of Ukrainian lands. Kuzyo said, “As of December 2023, Ukraine has around 1,56,000 sq km of contaminated territories. Ukraine needs demining equipment for the government authorities, means and equipment for water and underwater demining, training for deming teams and capacity development for state authorities, technical expertise and assistance for victims of landmines and explosive remnants of war.”Seppo Nurmi, Deputy Ambassador of EU in India, said,

The damage assessment by the World Bank in March 2023 highlighted that reconstruction and recovery of Ukraine needs an investment of $ 411 billion. “New estimates which are supposed to happen in March this year are expected to be much higher than the earlier estimates.”