It also follows the announcement that the UK will increase military funding for Ukraine in the next financial year to £2.5 billion, an increase of £200 million on the previous two years. The funding will help leverage the best of UK military expertise and defence production to ensure Ukraine’s victory on the battlefield, including in critical areas like long-range missiles, air defence, artillery ammunition and maritime security. While at Davos, the Foreign Secretary will also emphasise the need for security and stability in the Middle East and reiterate the four things that must happen for a peaceful solution to the Israel-Hamas war – a Palestinian-led government in Gaza and the West Bank, a concrete plan to help reform and support the Palestinian Authority, a major reconstruction plan for Gaza, and a political horizon towards a two-state solution. Ukraine is standing up for the rules that keep us all safe. This is why the UK has provided almost £12 billion in support to Ukraine. We will stand with them for as long as it takes to achieve victory. The Foreign Secretary will reiterate his support for Ukraine in a discussion with the Minister of Foreign Affairs of Ukraine, Dmytro Kuleba, which will focus on the need for unity to lay the foundations for Ukraine’s long-term future and to win the war.
In my discussion with Foreign Minister Dmytro Kuleba, I will make clear the UK will continue to be a steadfast supporter of Ukraine, so it not only wins the war, but emerges from it as a strong, sovereign, and free country. Russia’s aggression has disrupted Ukraine’s cross-border trade and hit its economy. The commitment of million through British International Investment comes ahead of the investment of £250 million of new capital for BII which the Prime Minister announced at the Ukraine Recovery Conference in June 2023. The world has changed significantly since I first entered government, and we live in very unstable, uncertain and dangerous times. The global impact of conflicts, diseases and climate change is sadly growing. But as the challenges increase, so too must our efforts.
The meeting with the Ukrainian Foreign Minister comes as the UK’s Development Finance Institution, British International Investment (BII), launches its first investment in Ukraine, committing million to ensure Ukraine remains connected to a global economy. As part of a two-day programme, the Foreign Secretary will meet with US Secretary of State Antony Blinken, Ukraine’s Foreign Minister Dmytro Kuleba, Bill Gates, and others to discuss the need for continued collaboration and fresh thinking, including to tackle ongoing conflicts. The Foreign Secretary, Lord David Cameron, will call for greater action from world leaders at this year’s World Economic Forum in a bid to mobilise international support and cooperation on the world’s biggest challenges. This previously announced investment to the International Finance Corporation (IFC)’s Global Trade Finance Programme, alongside investments from the US International Development Finance Corporation and the Multilateral Investment Guarantee Agency, will open access to financing for billion of Ukrainian imports and exports, including vital food supplies. Foreign Secretary Lord David Cameron said: The Foreign Secretary will also have meetings covering the UN’s Sustainable Development Goals, Multilateral Development Banks, and greater international cooperation to tackle global threats – such as diseases and climate change.
