👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

Factbox-Western nations commit billions to help rebuild Ukraine

Published 06/21/2023, 07:04 AM
Updated 06/21/2023, 07:11 AM
© Reuters. European Commission President Ursula von der Leyen addresses the opening session on the first day of the Ukraine Recovery Conference in London, Britain June 21, 2023..     Henry Nicholls/Pool via REUTERS

LONDON (Reuters) - Britain, the United States and the European Union pledged billions of dollars of extra help to rebuild Ukraine on Wednesday.

Below are the details of some of the commitments made in connection with the Ukraine Recovery Conference in London.

EUROPEAN UNION

The EU said on Tuesday it would provide Ukraine with 50 billion euros ($54.6 billion) in aid for 2024-27, of which 17 billion euros would come in free grants and the rest in the form of low-interest loans, it said.

UNITED STATES

U.S. Secretary of State Antony Blinken pledged $1.3 billion of additional aid.

He said $520 million was for overhauling Ukraine's energy grid, $657 million was for modernising its border crossings, ports, rail lines and other critical infrastructure, $100 million was to help digitise Ukraine's customs and other systems, while another $35 million would help businesses in the country with financing and insurance costs.

BRITAIN

British Prime Minister Rishi Sunak outlined a package of support including loan guarantees worth $3 billion over three years. The country will also commit up to 250 million pounds ($318 million) of new capital for the British International Investment mechanism in Ukraine.

There will also be an extra 240 million pounds of aid for Ukraine this year for humanitarian support, disaster relief kits, mine-clearance and energy projects.

FRANCE

French Foreign Minister Catherine Colonna said France would provide an additional 40 million euros ($44 million) to fund emergency reconstruction of critical infrastructure and health equipment.

GERMANY

German Foreign Minister Annalena Baerbock committed an extra 381 million euros for humanitarian assistance this year.

"For everything from generators to food, and tents for those who have fled or lost their homes recently," she said.

© Reuters. European Commission President Ursula von der Leyen addresses the opening session on the first day of the Ukraine Recovery Conference in London, Britain June 21, 2023..     Henry Nicholls/Pool via REUTERS

($1 = 0.7870 pounds)

($1 = 0.9155 euros)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.