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Sunday, June 23, 2024

United States Allocates $1.3 Billion in Additional Economic Assistance to Ukraine

To assist Ukraine in recovering and rebuilding its electrical system, US Secretary of State Antony Blinken said that the United States will contribute more than $1.3 billion (€1.19bn) in extra assistance.

Since Russia’s invasion of Ukraine in February 2022, the United States has donated $63 billion in aid. This fresh cash comes from funds previously allocated by the US Congress.

Weapons and other security aid amount to around $40 billion of the total.

Mr. Sunak described the conference as a chance to “plant the seeds of Ukraine’s future” and welcomed the attendance of thousands of delegates from industry, government, and civil society organisations.

This is the second such meeting since the Russian invasion in February of last year.

To aid with Kyiv’s reconstruction, he also announced that the European Union and the World Bank will guarantee loans totaling €2.7 billion.

He said that the Ukrainian resistance to the Russian invasion shows the country’s innovative spirit and makes it a good place for investments.

Ukrainian President Volodymyr Zelensky, who addressed the conference via video connection, urged participants to turn “agreements” into “real projects” to aid his country’s recovery.

He expressed gratitude to “every country where we have agreed on principles for recovery” before stating, “We must move from region to agreements and from agreements to real projects.”

Mr. Zelensky, who is advocating for Ukraine’s membership in NATO and the European Union, called on Western leaders to have the “courage” to recognise Ukraine as an integral component of their economic and military ties.

“All we’re waiting for is the political courage of the alliance leaders to acknowledge this reality,”

Ursula von der Leyen, president of the European Commission, indicated during her address that had “no doubt” that Ukraine will join the EU.

She lauded the country’s swift and effective change. We’ll never be able to equal their sacrifice, but we can and will stand together nonetheless, she added.

While discussing her vision for Ukraine’s future, Ms. von der Leyen stated that she hoped it would become a “country that attracts foreign investment, a country that is master of its future, a country that is a member of the European Union.”

She discussed EU investment plans for Ukraine while stating that the EU had a “special responsibility” towards the nation.

When asked what they saw for their country’s future, Ukrainians told us they saw the European Union flag floating over their cities. Ukraine’s membership in our union is inevitable; of that I am certain.

Irish Tánaiste Micheál Martin has said that his country would contribute to the EU’s promised €50 billion towards Ukraine’s rebuilding.

Mr. Martin, who was present at the conference, reaffirmed Ireland’s support for Ukraine’s EU membership.

Among the governments he met with face-to-face were the ones of the United Kingdom and Japan.

At the conference, Mr. Martin said that Ireland had given Ukraine 185 million euros in bilateral aid since the year 22.

In addition, it is sheltering 90,000 Ukrainians (1.8% of the population) who have fled the conflict.

He remarked, “The remarkable tenacity of the Ukrainian people is a constant source of inspiration. They will need the same kind of will to restore their country with help from allies like Ireland and other nations.

Jonathan James
Jonathan James
I serve as a Senior Executive Journalist of The National Era
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