EU calls for private European investment to support Ukraine's recovery

BRUSSELS. Nov 13 (Interfax) - The European Union launched a call at the first EU-Ukraine Investment Conference in Warsaw on Wednesday to mobilize private investments towards sectors that are critical to Ukraine's rebuilding efforts, the European Commission said.

"The EU launched a call for expression of interest to mobilize private EU investment in critical areas to support Ukraine's rebuilding efforts. Proposals will be reviewed and connected to the best suited investment projects funded under the Ukraine Investment Framework, which is an integral pillar under the EU's 50-billion-euro Ukraine Facility. The call will be open until March 1, 2025," the European Commission said in a communique.

"Ukraine's reconstruction requires both public funding and partnerships with the private sector. By bringing these efforts together, we can maximize investment, support the country's recovery and gradual integration into the EU Single Market. Indeed, fostering the private sector involvement in Ukraine's recovery and reconstruction processes will be key to its success," European Commissioner for Neighborhood and Enlargement Oliver Varhelyi said.

The priority areas on the EU's call are developing sustainable energy solutions, including renewable energy projects and modernization of existing energy infrastructure, investments in processing key minerals and resources needed for high-tech industries and renewable energy technologies, revitalizing and modernizing the manufacturing sector to boost industrial competitiveness, support for reconstruction from housing to public buildings, etc.

The two-day conference brings together over 5,000 participants, among them companies, banks, and investors from Ukraine, the EU, and beyond, to mobilize private investment towards Ukraine's recovery, reconstruction, and modernization, the European Commission said.