Yesterday, representatives from Ukraine and 41 other nations signed the Lugano Declaration at the conclusion of the two-day “Recovery of Ukraine” conference in Lugano, Switzerland. Ukrainian diplomats asked foreign governments to agree, in principle, to pump at least $750 Billion into Ukraine’s rebuilding and economic recovery. In return, Ukrainian officials alleged that they would enact economic reforms and have greater transparency.
Ukrainian Prime Minister Denys Shmyhal told the conference that he would like the money to begin arriving “right now.”
Every single EU nation except for Bulgaria signed. The Bulgaria government did not sign because the government is in limbo right now after a vote of no confidence for the Prime Minister.
Besides 26 out of 27 EU nations, Albania, America, Australia, Britain, Canada, Iceland, Israel, Japan, Liechtenstein, North Macedonia, Norway, Moldova, South Korea, Switzerland, and Turkey all signed.
Many critics have denounced the agreement saying it will be a giant international grift. They suggest governments use tax-payer dollars to subsidize for-profit private investments in Ukraine. Many believe Ukraine will end up hopelessly subservient to banks and multi-national corporations.
Complete list of Signatories: Albania, Australia, Austria, Belgium, Canada, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Iceland, Israel, Italy, Japan, Latvia, Lithuania, Liechtenstein, Luxembourg, Malta, Moldova, Netherlands, North Macedonia, Norway, Poland, Portugal, Romania, Slovak Republic, Slovenia, South Korea, Spain, Sweden, Switzerland, Turkey, Ukraine, United Kingdom, United States of America
Meanwhile, Russia has already unveiled aggressive reconstruction projects for Donetsk and Lugansk Oblasts. The Russian government has sent hundreds of pieces of heavy construction equipment to the Donbas region.
In Mariupol, Russia claims that twelve five story apartment buildings and an outpatient hospital will be ready for occupants by November 1st. A total of 1,100 units. Russia has a claims process for people to seek compensation for destroyed houses and flats. A grocery market and shopping center near the site are being refurbished. The units will be given out as compensation. Eventually, the site will be expanded to include 2,500 units and a new school.