JBIC Governor HAYASHI Nobumitsu participated in the Ukraine Recovery Conference 2023 co-hosted by the governments of the United Kingdom and Ukraine in London from June 21 to June 22, 2023. The conference was held to discuss the international community’s support and initiatives, looking ahead to Ukraine’s recovery from the Russian invasion. This event was attended by numerous senior officials from governments, international institutions, and corporations, including British Prime Minister Rishi Sunak, Ukrainian President Volodymyr Zelenskyy (online), Ukrainian Prime Minister Denys Shmyhal, and Japanese Foreign Minister HAYASHI Yoshimasa. At the conference, JBIC signed a memorandum of understanding (MoU) and joined multiple sessions, including a panel discussion described below that introduced the audience to JBIC’s initiatives and affirmed its determination to support Ukraine’s recovery in collaboration with other countries, international institutions, etc.
(1) Signing of Memorandum of Understanding on EBRD-G7 DFI-EDFI Ukraine Investment Platform
At the Ukraine Recovery Conference on June 21, JBIC signed an MoU on the EBRD-G7 DFI-EDFI Ukraine Investment Platform with development finance institutions from G7 countries and European countries and the European Bank for Reconstruction and Development (EBRD)*1.
At the signing ceremony of the MoU, remarks were made by Anne-Marie Trevelyan, Minister of State (Indo-Pacific) in the British Foreign, Commonwealth and Development Office, Yulia Svyrydenko, Ukrainian First Deputy Prime Minister and Minister of Economy, and Odile Renaud-Basso, President of the EBRD. From JBIC, which led the launch of the platform as a policy-based financial institution from Japan, the host of the G7 summit, Governor HAYASHI, remarked that JBIC would further deepen its collaboration with the participating institutions for the recovery of Ukraine.
(2) Participation in Panel Discussion
At the Ukraine Recovery Conference on June 21, JBIC participated in a panel discussion titled “Investment Opportunities and De-Risking Mechanisms to Mobilise Private Finance in Ukraine.” At this session, Yulia Svyrydenko, Ukrainian First Deputy Prime Minister and Minister of Economy, delivered a keynote speech. After this, JBIC Governor HAYASHI participated in a discussion with Philipp Hildebrand, Vice Chairman of BlackRock, and Scott Nathan, Chief Executive Officer of the U.S. International Development Finance Corporation (DFC), and others*2.
JBIC Governor HAYASHI spoke about the establishment of the EBRD-G7 DFI-EDFI Ukraine Investment Platform, the JBIC Act amendment that enabled JBIC to provide guarantees for international financial institutions that support Ukraine, and JBIC’s efforts to support Ukraine and its neighboring countries, including a guarantee for the samurai bonds issued by Bank Gospodarstwa Krajowego (BGK). He also asserted JBIC’s resolve to support Ukraine from a global perspective, as well as to support Japanese companies, in harmony with the moves of the international community. With the mention of the importance of international collaboration in the insurance sector, which is essential for promoting private investment for Ukraine’s recovery, HAYASHI welcomed the launch of the London Conference Framework on War Risk Insurance for Ukraine announced by British Prime Minister Sunak.
(3) Participation in Japan-Ukraine Public Private Roundtable Session
On June 22, JBIC participated in the Japan-Ukraine Public Private Roundtable session, which was hosted by the Government of Japan (Ministry of Economy, Trade and Industry, Ministry of Foreign Affairs, and Japan External Trade Organization) on the sidelines of the Ukraine Recovery Conference. At this roundtable, which was attended by approximately 120 participants from Japanese and Ukrainian companies and others, participants discussed and shared their views on multiple topics, including the investment environment in Ukraine and the businesses of Japanese and Ukrainian companies. They were also given an opportunity to network.
Yulia Svyrydenko, Ukrainian First Deputy Prime Minister and Minister of Economy, and JBIC Governor HAYASHI delivered keynote speeches encouraging the public-private collaborations of both countries.
(4) Signing of Ukraine Business Compact
JBIC signed the Ukraine Business Compact, from which the governments of the United Kingdom and Ukraine have been spurring global approval toward the Ukraine Recovery Conference. The Ukraine Business Compact gives businesses around the world a platform to show their expectations for the success of the efforts for Ukraine’s peace and recovery and to show their resolve to support Ukraine’s recovery. It has been signed by more than 500 companies and other organizations in 42 countries.
Through these initiatives that capitalize on its status as a policy-based financial institution of Japan, JBIC will assist with the reconstruction of Ukraine in collaboration with like-minded countries and leading international institutions.
Panelists: Yulia Svyrydenko (Ukrainian First Deputy Prime Minister and Minister of Economy), Sergi Tsivkach (CEO, UkraineInvest), Phillip Hildebrand (Vice Chairman, BlackRock), Scott Nathan (CEO, DFC), HAYASHI Nobumitsu (Governor, JBIC), Olga Sclovscaia (Regional Head of Europe & Central Asia, MIGA), Eric Andersen (Global President, AON), Jan Lipavsky (Minister of Foreign Affairs, Czech Republic), Giovanni Salvetti (Head of Ukraine, Central Asia and Caucasus, Rothschild & Co.), and Stefan Weiler (Head of Debt Capital Markets for Central Europe, Middle East and Africa, J.P. Morgan)