The UK has committed over £4.7 billion in non-military support to Ukraine’s reconstruction, including fiscal support and investments aimed at fostering a resilient, modernised economy.

The information came to light via a letter from the Earl of Minto to Lord Lancaster of Kimbolton regarding the cost of the reconstruction of Ukraine, as discussed during a recent House of Commons Urgent Question on Ukraine.

“Thank you for your contribution regarding the cost of the reconstruction of Ukraine
during the Urgent Question on Ukraine on 19 December. I committed to placing in the library an update on the costs of reconstruction.

In March 2023, the World Bank estimated Ukraine’s total recovery and reconstruction
needs to be $411bn. The World Bank is expected to provide an updated Rapid Damage and Needs Assessment in 2024, ahead of the next Ukraine Recovery Conference in June.

Supporting Ukraine to rebuild and unlock its enormous economic potential, and emerge from the war with a modernised, reformed and inclusive economy resilient to Russian threats, is a core part of UK and international efforts to help Ukraine to win the war. Since February 2022, the UK has committed over £4.7bn in non-military support.

The UK is providing up to $1bn a year in fiscal support through World Bank guarantees between 2023 and 2027 as part of a wider $115bn package from G7+ partners and through an IMF programme to support Ukraine’s economic stability and Euro-Atlantic integration.

The Ukraine Recovery Conference, which the UK co-hosted with Ukraine in London in June, raised over $60 billion towards meeting the recovery and reconstruction needs of Ukraine. At the Conference, the UK announced commitments of a further $3 billion of guarantees to unlock World Bank lending to Ukraine, and up to £250 million of new capital for the UK’s development finance institution and British International Investment (BII) to support investments over the next few years to advance Ukraine’s economic recovery.”

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George has a degree in Cyber Security from Glasgow Caledonian University and has a keen interest in naval and cyber security matters and has appeared on national radio and television to discuss current events. George is on Twitter at @geoallison
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Mark B
Mark B
17 days ago

I’m assuming there would be no rebuilding until Ukraine’s security could be guaranteed i.e. Ukraine would be part of NATO.

I’m also assuming that the US would want to both contribute and profit from such a rebuilding programme?

john
john
17 days ago
Reply to  Mark B

That is what USA does best.

FormerUSAF
FormerUSAF
17 days ago
Reply to  Mark B

Ummm…er…perhaps. Next POTUS and Congress may well prove to be determinative. No longer handicapping election results. BTW, the first $300+Bn would be available at any time by seizure of frozen Orc assets, provided that some government(s) have the fortitude to exercise the option. 🤔

Ulya
Ulya
17 days ago
Reply to  FormerUSAF

Seems like we both want the west to take the 300 billion 👍

FormerUSAF
FormerUSAF
17 days ago
Reply to  Ulya

Not often shocked by replies. Your post is an exception to that general statement. Please elaborate at your convenience. 🤔

Ulya
Ulya
17 days ago
Reply to  FormerUSAF

The money is already lost to Russia and I don’t think the west will ever unfreeze it, so we close it off as a loss, how sad never mind. The more important part is the message this sends to the rest of the world about using in trade and holding reserves in the euro/dollar and using western financial institutions. Two years ago countries would of been shocked but say nothing because there was no viable alternative, now there is. Even European central banks and the IMF have warned the EU against doing this and how it will undermine the western… Read more »

ChrisLondon
ChrisLondon
17 days ago
Reply to  Ulya

I think this is an inevitable part of WW3. The regime you are here to front for has declared war on good on earth so the war will spread. The good news for Good itself is that every regime on your side rules by terror and is hated by all the good people within it, usually the majority of the population.

Ulya
Ulya
17 days ago
Reply to  ChrisLondon

Bless lol

FormerUSAF
FormerUSAF
17 days ago
Reply to  Ulya

Thanks for your timely response. Need to consult the economics texts and press before formulating an appropriate answer. Will respond in due course. 🤔

Andy reeves
Andy reeves
16 days ago
Reply to  FormerUSAF

I won’t respond, I never understood a w7 of it 🫤

Ulya
Ulya
16 days ago
Reply to  Andy reeves

What is w7?
Basically the financial war and geopolitical war is far more important than Ukraine long term. The SMO exalerated the process, both in terms of the back ground on how it started and more importantly western reaction. In this I do not mean how you or I interpret it, it is how non western countries understand it and what they need to do and who they need to work with to give themselves alternatives to the western system.

FormerUSAF
FormerUSAF
16 days ago
Reply to  Andy reeves

Sorry, w7? Any relationship to G7?

Airborne
Airborne
16 days ago
Reply to  Ulya

Ah the bots back…..most amusing, we await your “impartial” posts 😂

Ulya
Ulya
16 days ago
Reply to  Airborne

Good morning Airborne,
Don’t worry, after today I will be quiet again for a little time.
Please let me know what you disagree with in my comments, I look forward to hearing your view on the financial situation

George
George
17 days ago
Reply to  FormerUSAF

I’d rather see the money spent rebuilding our armed forces to defend that which we hold dear. Massive investments should be demanded of every NATO member before another penny is given away. The frozen assets being used directly to fund rearmament of the country holding them. Let the founding members of the USSR fend for themselves. Perhaps the second term of Pres Trump will see a tectonic shift in the right direction.

It’s not a popular view on here but there it is, I stand by it. Geordies testicular fortitude guaranteed!💂💂💂🕵

FormerUSAF
FormerUSAF
17 days ago
Reply to  George

Seized Orc funds would be fungible. Perfectly willing to have some percentage of funds utilized for rearmament by West, followed by investment in UKR upon successful conclusion of conflict. Certainly subject to compromise, negotiated by political class that progresses/evolves from invertebrates.

ChrisLondon
ChrisLondon
17 days ago
Reply to  George

The trouble with that is Trump is just an English speaking version of Putin. If Trump gets in then the only sane option for the UK is back into the EU and the sooner it becomes a rival super power to the USA and China the better.

Spyinthesky
Spyinthesky
16 days ago
Reply to  ChrisLondon

True should have been realised a long while ago but sadly had that reality been worked on earlier Putin’s ever present plans would even more been blamed on Western ‘threats’. We are our own worst enemy and Putin and others play on it relentlessly. Trump supporters really don’t comprehend they are sowing the seeds of their own destruction …. or maybe the destruction of their children/grandchildren.

Andy reeves
Andy reeves
16 days ago
Reply to  Spyinthesky

Trump supporters are as stupid as he is I don’t understand why the American or would elect a washed up cowboy, a criminal magalomaniac and a senile old man to the most powerful (,or dangerous) joon on the planet.

Chris
Chris
16 days ago
Reply to  Andy reeves

Stop watching BBC and CNN.

Airborne
Airborne
16 days ago
Reply to  Andy reeves

Biden……oh no sorry his son is the criminal, he’s the senile bit!

Jacko
Jacko
16 days ago
Reply to  ChrisLondon

You are looking across the ditch at what is going on within your precious EU aren’t you? Doesn’t seem like a happy bunch of bunnies at the moment do they?

Andy reeves
Andy reeves
16 days ago
Reply to  Jacko

But still not letting the U.S realise just how disliked THEY ARE.

Chris
Chris
16 days ago
Reply to  Andy reeves

Do you think the Americans love europeans after subsidizing European defense for decades only to be disrespected endlessly?

Airborne
Airborne
16 days ago
Reply to  Chris

Spot on!

Airborne
Airborne
16 days ago
Reply to  Andy reeves

Political dislike maybe but most yanks I’ve met are great people, and I lived at Bragg for quite a while!

Andy reeves
Andy reeves
16 days ago
Reply to  ChrisLondon

Wit equal levels of stupidity

Chris
Chris
16 days ago
Reply to  ChrisLondon

The EU will never be a super power. Its demographics and climate cult will never attain the economic prosperity required.

Too many chiefs, not enough Indians.

klonkie
klonkie
16 days ago
Reply to  Chris

oooh Chris – I don’t think we can say Indians anymore. I believe the preferred term is Native Americans. lol 😉

Airborne
Airborne
16 days ago
Reply to  Chris

Agreed! 👍

ChrisLondon
ChrisLondon
17 days ago
Reply to  George

By the way George are you still calling for a military coup if Labour win the next election?

Airborne
Airborne
16 days ago
Reply to  ChrisLondon

It’s his right and freedom of speech to state that if he wants to! Is there a current issue with you regarding individual right to free speech and freedom of expression?

ChrisLondon
ChrisLondon
16 days ago
Reply to  Airborne

Calling for a military coup is treason and warrants the loss of his military pension.

Similarly making up slanders against groups to incite violence is a hate crime and warrants criminal action.

Let me give you an equivalent position. I put up posters around where you live with your photo and saying ‘Possible pedophile, watch near children’. Are you saying the Police should wait for someone to stab you before they do anything to me?

That is the equivalent to what Farouk did.

Airborne
Airborne
16 days ago
Reply to  ChrisLondon

Firstly no it’s not, you are a little bit out of date, as when doing your 6.5 years in the TA you should have read QRs a little more in depth, or spoke to your SPSI. And the equivalent position scenario you state is not fit for purpose, do try again with a more coherent and relevant one, thanks.

Marius
Marius
17 days ago
Reply to  George

Perhaps the second term of Pres Trump will see a tectonic shift in the right direction.

Correct. He’s the only person with the necessary persona to bang heads together and make people talk to one another – and talk they will have to at some point!
The Donald all the way!

Spyinthesky
Spyinthesky
16 days ago
Reply to  Marius

You mean just as he did the Chinese, North Koreans, Russians, Iranians et al the last time. All he did was drive eastwhile friends or neutrals into other camps while empowering the Israelis into driving us towards WW3 by feeling they no longer had any need to compromise.

George
George
16 days ago
Reply to  Spyinthesky

It never fails to amaze me how different people can view the same world events and draw contradictory geopolitical conclusions. Which underlines why openly discussing these things is so important. If nothing else it makes each of us aware of the array of conflicting views on the subject. It was not Pres Trump who did those things. In fact he achieved much in his four years, despite previously unknown levels of hostility. All because he would not play the game according to disadvantageous rules. With ref. to Israel. Seventy plus years after winning a war against forces determined to commit… Read more »

George
George
16 days ago
Reply to  Marius

Well said. The man is a force of nature. Impossible to ignore and a little unpredictable. Exactly what the world needs.

Andy reeves
Andy reeves
16 days ago
Reply to  George

Delusional

Andy reeves
Andy reeves
16 days ago
Reply to  Marius

Nut’s he’s stupid enough to bring down Armageddon.

Chris
Chris
16 days ago
Reply to  Andy reeves

He started 0 wars. Biden and Co. is on war #3.

klonkie
klonkie
16 days ago
Reply to  Chris

Its a very valid point that you raise Chris. On Trump’s watch there was zero invasion of the Crimea or the Ukraine. Both events occurred on the Democrats watch – funny that.

Spyinthesky
Spyinthesky
16 days ago
Reply to  George

Well presently Trump is encouraging Russia to attack more European Countries so I guess he as a ‘businessman’ has a handle on what originally made ‘made America Great’ and that’s exploiting a Dictators physical destruction of Europe and the wider world for personal and national economic gain. Of course short sighted as it will inevitably bring down the US eventually with that lunatic policy leaving them with no friends or allies but hey that’s a future President’s problem in his mind and while their World collapses around them voters can claim how wonderful it was for this few years under… Read more »

Andy reeves
Andy reeves
16 days ago
Reply to  Spyinthesky

Trump cannot speak without mentioning the word dolls, which sums it all up he like many people over the pond think that a problem is solvable simply by throwing money at it.

Ron
Ron
17 days ago
Reply to  Mark B

Not sure, possibly a long arm NATO, not a full member but an Article 5 member. This would mean that no NATO nation could station troops in the Ukraine, the Ukraine could take part in NATO ex’s, but an attack on Ukraine means that NATO is involved.

Spyinthesky
Spyinthesky
16 days ago
Reply to  Ron

Actually that sounds like the best compromise it’s just whether other members would respond to article 5 if it were triggered, after all Trump just claimed his response to it might be to support Russia even against Countries he doesn’t have personal animosity towards. So it might mean no more than the last guarantee we gave Ukraine when they gave up nukes. But probably along with EU Membership and an increasing military union there (yeah I know) the best that can be hoped for but let’s hope it’s never tested if so.

Andy reeves
Andy reeves
16 days ago
Reply to  Spyinthesky

So to trump it’s if you pay, we’ll play.if it’s about America, it’s about money and nothing else.

Andy reeves
Andy reeves
16 days ago
Reply to  Ron

NATO even without the Americans would be formidable enough to keep the beast from the door maybe the remit or terms of membership could be rewritten to enable moe nations worldwide to join the alliance

Chris
Chris
16 days ago
Reply to  Andy reeves

Yeah, good luck with that. Most EU countries don’t even have parts for maintenance. When Russia invades Estonia, who will be launching on Moscow first?

Airborne
Airborne
16 days ago
Reply to  Andy reeves

NATO without the US would it be a real paper tiger! Putin, the Chinese and anyone else with half a brain knows the US are the only ones who are able to guarantee western freedom, whether Europe likes that fact or not!

Andy reeves
Andy reeves
16 days ago
Reply to  Mark B

The U.S won’t be bothered unless btheres a chance to make money out of it

Ron
Ron
17 days ago

Rather than helping to raise the Billions why not get involved. I spent a few years in Ukraine building, designing the mobile telecoms network. In some ways I am really proud of what I did by fighting the investors to build some redundency into the system. I am really peed of that some idiot is destroying everything I built.

Airborne
Airborne
17 days ago

Chin of HS2, look at the saved pot of cash, half to the MOD and half to to Ukraine, job done 😇👍

John
John
17 days ago

Well we must fund the wheels of corruption eh? I get a feeling Zelensky is on borrowed time. He fecks around with the military too much IMO. His recent sacking of a proficient soldier who is popular? Stupid. Trumps coming as well. So we will see negotiation, surrender of territory in exchange for neutrality. As for the banking cartels? They do not care where they make money, or how.

Mr Bell
Mr Bell
16 days ago

There is over £300 billion in frozen Russian assets confiscated when Russia invaded Ukraine. Ergo that is majority of the funding required for reconstruction.
I don’t think UK taxpayers should foot the bill. Ukraine is a foreign country and the UK has it’s own huge infrastructure and demands for governmental/ tax payers funding.
Russia started this illegal and brutal war and should have its assets frozen used to pay for the war whether they like it or not.

Simon
Simon
14 days ago
Reply to  Mr Bell

Imagine the City does not release Russian assets and expects uk to fund Ukraine recovery. Well we bailed the banks last time.

Andy reeves
Andy reeves
16 days ago

That kind of money exists? Then it should be used at home and not in a bottomless hole that is sucking on the tit of the west. The Ukraine is losing its valiant fight and needs to realise that the west is not a chequebook.