The Joint Declaration of Support for Recovery and Reconstruction of Ukraine was adopted by more than 30 countries and the European Union during a meeting in New York on Sept. 25. This document, endorsed at the G7 + Ukraine meeting, aims to assist in rebuilding Ukraine towards EU accession and provide approximately $50 billion by 2024 from frozen Russian assets.
U.S. President Joe Biden expressed determination to support Ukraine by announcing a new military aid package worth $375 million, with plans for an additional aid package exceeding $8 billion during President Volodymyr Zelensky’s visit to the White House on Sept. 26. By collectively aiding Ukraine’s reconstruction, the participating nations aim to thwart Russia’s goals while ensuring post-war economic stability.
The estimated cost of Ukraine’s recovery post-Russian invasion has escalated to $486 billion over a decade, as per the World Bank. To address this, Ukraine requires $9.5 billion for rapid recovery in 2024, particularly in sectors like defense, energy, housing, agriculture, natural resources, and IT. Coordinated through the Ukrainian Donor Platform, efforts will ensure those aiding Ukraine now will benefit from the ensuing reconstruction.
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