US to provide Ukraine with $1.3 billion for reconstruction
Washington will provide Kyiv with additional $1.3 billion to help Ukraine overcome the consequences of a full-scale invasion.
This was announced by the U.S. Secretary of State, Antony Blinken, at the Ukraine Recovery Conference.
"And today, I’m announcing that, with the support of the United States Congress, we will provide more than $1.3 billion in additional aid to help Ukraine," Blinken said.
The US Secretary of State said that the US plans to invest more than $520 million to help Ukraine overhaul its energy grid, which was subjected to Russian attacks throughout the heating season and half of which was destroyed.
Another $657 million will be sent to "modernize Ukraine's border crossings, rail lines, ports and other critical infrastructure" connected to Europe, "allowing it to exchange more goods by more pathways more and more efficiently."
Another 100 million will also be provided to digitize Ukraine's customs system, "to boost speed and cut corruption." Another 35 million will be allocated to Ukrainian businesses and entrepreneurs through financing and insurance, thereby reducing the risks of investing in the country.
"In so doing make it cleaner, make it more resilient, make it more integrated with Europe. And we’ll support Ukraine’s energy market reforms to combat monopolies and to spur more private investment, which will enable Ukraine one day to become a major energy exporter," Blinken said.
Blinken emphasized that the announced support will complement the work already done by the G7. He noted that together the partners "have raised billions of dollars to help repair and rebuild Ukraine."
To recap, today London announced that it will provide Ukraine with $3 billion in long-term financial support. At the same time, Paris joined the list of donors, announcing that it will provide Ukraine with an additional €40 million in non-refundable support for the necessary reconstruction this year. It was also announced that France is preparing a multi-year assistance plan for civilian needs such as humanitarian aid, economic support and financial stability.