Question to the Foreign, Commonwealth & Development Office:

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, what recent discussions he has had with the Ukrainian government on the adequacy of the availability of (a) insurance and (b) other mechanisms to help (i) support and (ii) de-risk foreign commercial engagement in Ukraine.

The UK works closely with the Ukrainian government on a range of insurance and other derisking measures to support investment in Ukraine. In March, I and the Minister of State (Gareth Thomas) hosted an insurance industry roundtable at Lloyd's of London jointly with Ministers from the Ukrainian Ministry of Economy to identify the barriers and opportunities to scale up insurance initiatives in Ukraine. We have subsequently supported the Government of Ukraine to establish an insurance task force to collaborate with industry and develop initiatives that make insurance more affordable and widely accessible. Beyond insurance, UK Ministers have discussed and provided support to Ukraine on export credit through UK Export Finance and on investment climate reform where we are providing technical expertise on investment promotion and financial sector reforms through the City-Ukraine hub. I look forward to further opportunities to raise these issues with business and insurance representatives at the upcoming Ukraine Recovery Conference in Rome.