Ukraine Reconstruction Conference: USA and UK promise Ukraine over $4bn
Additionally, EU countries will cover 45% of Ukraine's funding needs until 2027
The USA and EU promised Ukraine over $4bn.
This was announced during the Ukraine Reconstruction Conference.
USA
US Secretary of State, Antony Blinken, announced the aid from the US. The United States are allocating $1.3bn to attract international investments for the restoration of Ukraine. Specifically, $520m will be directed towards the repair of the energy grid.
Separately, the USA will allocate $657m for the modernisation of border checkpoints, railway lines, ports, and other critical infrastructure.
UK
The UK Prime Minister, Rishi Sunak, announced a multi-year financial aid package for Ukraine, which includes loan guarantees from the World Bank amounting to $3bn. These funds will be used to support vital public services, including the operation of schools and hospitals.
Moreover, the United Kingdom will provide £240m in bilateral financial assistance and will expand the British programme of international investments, increasing funding to £250m in the national currency.
EU
The President of the European Commission, Ursula von der Leyen, announced that the EU countries will cover 45% of Ukraine's funding needs until 2027.
According to her, the deficit in Ukraine's tax system by that time will be 60bn euros. In addition, another 50bn euros will be required for the country's primary restoration needs. Thus, according to the European Commission's estimates, the total deficit will amount to 110bn euros until 2027.
Background. Mind previously reported that the European Union reserves 50bn euros for Ukraine. The package will include both loans and grants.
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