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.”
Perhaps we should focus funding more on winning the war. How much would it cost to build a massive factory or two or five in the UK to churn out 155mm shells by the million. We are not short on areas of deprivation that could use this uplift. Arsenal of democracy and all, we could restart M777 production as well and churn out hundreds. If we did this two years ago Ukraine would be in a very different situation today. We had a £15 billion foreign aid budget that could all have been used for this instead of paying for… Read more »
Perhaps SK could also lend a hand to help supply and install the necessary equipment. South Korea to mass produce extended-range projectiles for K9 howitzers08 February 2024 South Korean metal and munition manufacturer Poongsan will initiate the mass production of the extended-range 155 mm artillery shells for the Hanwha Land Systems K9 Thunder self-propelled howitzers (SPHs) in 2024, a Poongsan official told Janes on 8 February. Development and trials of the extended-range 155 mm shells were completed in 2023 and the company received a combat suitability certificate from the Defense Acquisition Program Administration (DAPA) in July 2023, the official said.… Read more »
This article should say UK government committed to raising £411 billion to repair the crumbling UK infrastructure, build more reservoirs, energy grid and transportation needing to switch to net zero, fix the shocking state of the UK’s roads, reinstate rail links and repair our crumbling hospitals, schools, social housing.
Ukraine, if or when the war ends, will need loans from the world bank/ IMF for rebuilding its country. The UK taxpayer should not be asked to contribute funds when we have huge issues within the UK in terms of our own public infrastructure.
Can’t argue with that 👍
Can’t find fault with a word of that 👍
I wonder if we could take off £10 billion for homeland defence so it doesn’t end up looking like Ukraine at some point in the future after repairing all of the UK’s infrastructure.
How about putting homeless British people especially ex service men and women in homes first charity begins at home but I’m all for what’s going on in Ukraine the un should have stepped in from the start
Sadly not looking like this war going to end anytime soon .All for helping Ukraine ,but Putin has no intention of calling it a day . Unless Europe start seeding more war fighting kit and ammunition etc ,looking like a long hall 🙄
Russia is much more fragile than Putin likes to pretend, the country is falling apart and Ukriane is now attacking their Oil and Gas infrastructure to cripple their revenues.
The biggest concern at the moment is MAGA causing chaos preventing congress from sending much needed ammo. Pretty clear now that Trump is on Putin’s side, in the hope of election ‘assistance’.
#45 is desperate to avoid the jail time that he richly deserves as an insurrectionist and traitor to the USA. He is hoping for a repeat of Crimlin assistance like 2016 and 2020. He’s burning through his Save America Trump PAC funding so in full grift mode with his gullible supporters. His legal fees are massive and one case now has penalties of $88.300,000 due. Rape and defamation are rightly expensive actions in NY. His NYC trial for Fraud is proven and nearing the damages decision, estimated at $500,000,000. Plus the loss of company licences which means he literally has… Read more »
Absolutely laughable political prosecutions. When they tried to convince people that Mar E Lago was some kind of £30k bungalow in Jaywick was the cherry on top.
Trump committed fraud in valuing a commercial property as though it was a residence for his net worth & financial statements while getting bank loans yet when completing property tax forms used a much lower figure to minimise his taxes. Classical trump property fraud as adjudicated. Nothing political about property unless claiming to be a ‘really great businessman’ to a cult of poorly educated voters. His attempt to deflect his accountability for crimes by calling them political is pure projection i.e. something he wants to do but can’t. The Executive and Judiciary branches of government are independent so the law… Read more »
Wish Rishi showed the same commitment to rebuilding UKs crumbling infrastructure and services 🤬
r
Russian bot? Or just a UK resident who is sick of seeing the country neglected and ran down through political ideology?
For what it’s worth I want to see Ukraine free from Russia as much as anyone else on here.
I would have thought that committing that sort of funding to our own physical defence would be more useful.