Zelensky holds first meeting of international advisory group on investment for Ukraine

That is according to the Office of the President of Ukraine, Ukrinform reports.

The meeting was moderated by Advisor to the President on Economic Development Chrystia Freeland.

Zelensky thanked participants for supporting Ukraine throughout the years of full-scale Russian aggression.

"Today we are discussing priorities for Ukraine in investment, focusing on the most important things for us. Even during the war, after such a terrible winter, our country lives," Zelensky said.

Participants in the meeting focused on several key issues, including energy resilience and preparations for next winter, joint identification and implementation of investment projects for Ukraine, and investment opportunities in the defense industry.

First Deputy Prime Minister and Minister of Energy Denys Shmyhal spoke about the scale of losses suffered by Ukraine's energy system as a result of systematic Russian attacks and the needs for recovery. In cooperation with the World Bank, a comprehensive strategy for the development of Ukraine's energy system will be developed in the coming months, aimed at making it decentralized and flexible. In addition, five key investment clusters have already been identified.

According to Zelensky, on March 1 all local authorities will present an energy development plan for the next winter season. Ukraine will then have six to seven months to develop different types of energy generation.

"This is needed for our people. Anyway, even when the war ends, we will still have this deficit. So today this is a very important, very useful investment – in our energy sector," Zelensky said.

Deputy Prime Minister for European and Euro-Atlantic Integration Taras Kachka said Ukraine, together with its partners, has developed about 40 investment projects for post-war recovery and development. Besides the energy sector, which is currently a priority, they also cover defense, technology, transport, logistics, infrastructure, critical minerals, green metallurgy and decarbonization of the steel industry, and housing construction. Kachka invited representatives of international business to participate in the implementation of at least ten of them.

Presidential Advisor for Strategic Issues Oleksandr Kamyshin noted that Ukraine's defense industry is not only the foundation of security but also an area for investment. In March, Ukraine plans to hold a major presentation of its defense industry in the United States and later in Europe.

The International Advisory Group will work on an ongoing basis on important projects for Ukraine's economic recovery.

Participants included Advisor to the President on Rebuilding and Investments Oksana Markarova; President of the World Bank Group Ajay Banga; President of the European Investment Bank Nadia Calvino; President of the European Bank for Reconstruction and Development Odile Renaud-Basso; Senior Advisor at Goldman Sachs, Microsoft, and Anthropic and former Prime Minister of the United Kingdom Rishi Sunak; Chairman of the Munich Security Conference Wolfgang Ischinger; and executives and representatives of Vestas Wind Systems, Siemens Energy, General Atlantic, BlackRock, Fortescue, Citigroup, ArcelorMittal, State Street Corporation, Lazard, Relativity Space, McKinsey & Company, and Skandinaviska Enskilda Banken (SEB).

Photo credit: Office of the President of Ukraine