Secretary of State Antony Blinken pledged an additional $1.3 billion in assistance to help Ukraine rebuild following the Russian invasion.
(Bloomberg) — Secretary of State Antony Blinken pledged an additional $1.3 billion in assistance to help Ukraine rebuild following the Russian invasion.
Most of the funds will be directed to restoring the country’s battered energy grid and critical infrastructure ranging from ports to rail lines and border crossings.
The top US diplomat announced the new funds in London, where he is attending the Ukraine Recovery conference, hosted by the UK government. The meeting aims to unite allies behind an organized effort to help Kyiv sustain its economy as it presses forward with a counteroffensive to reclaim territory from Russian forces.
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“Recovery is about more than just ensuring people have what they need to survive — food to eat, water to drink,” Blinken told the conference, which was also attended by UK Prime Minister Rishi Sunak and featured a video address from Ukrainian President Volodymyr Zelenskiy. “Recovery is about laying the foundation for Ukraine to thrive as a secure, independent country fully integrated with Europe, connected to markets around the world.”
The new financing brings the total of US funding for Ukraine to around $64 billion, according to a State Department statement. The US money will add to a much bigger financial aid package from the European Commission, which has proposed $55 billion to help finance the Ukrainian government’s current expenditures and urgent reconstruction priorities.
Speaking at the conference, Blinken said the US is sending $520 million toward repairing and modernizing Ukraine’s energy grid, half of which has been destroyed — and $657 will go toward devastated critical infrastructure including rail lines, ports and border crossings. Another $100 million will help digitize Ukraine’s customs systems to “boost speed and cut corruption,” Blinken said.
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