At the Ukraine Recovery Conference (URC2023) in London, French Foreign Minister Catherine Colonna announced the creation of an insurance mechanism for investments in Ukraine against the risks associated with the war.

"I am announcing today the establishment of the insurance mechanism to cover investments in Ukraine against war-related risks via the French Public Investment Bank. This is totally consistent with the military insurance mechanism proposed by the UK and Ukraine, which we support," Colonna said speaking at the conference.

The minister also said that France fully supports the "courageous" reforms Ukrainian President Volodymyr Zelenskyy "has pledged to undertake in order to foster the rule of law and to improve the business climate in the country."

"These efforts will be key to attract private investment, without which reconstruction will not be possible. Thanks to our joint efforts, Ukraine will be back, and will be back better. Up until then, our support will not fade," Colonna said.