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U.S. Pledges an Additional $1.3 Billion in Aid to Help Ukraine Upgrade Infrastructure

The U.S. has committed to sending an additional $1.3 billion in aid to Ukraine to facilitate the modernization of the country's energy grid, ports, railways, and other key infrastructure. U.S. Secretary of State Antony Blinken announced this aid package on Wednesday.

Blinken addressed the Ukraine Recovery Conference in London, stating, "Recovery is about laying the foundation for Ukraine to thrive as a secure, independent country, fully integrated with Europe, connected to markets around the world." He further highlighted that with the support of the U.S. Congress, this extra $1.3 billion aid will help Ukraine move closer to this goal.

So What Does This Mean?

Breaking down the new aid, $520 million will be directed towards the overhaul of Ukraine's war-affected energy grid, while $657 million will support the modernization of its border crossings, ports, rail lines, and other critical infrastructure.

In an effort to "boost speed and cut corruption", around $100 million will be allocated for the digital transformation of Ukraine's customs and other systems. Another $35 million will be dedicated to aiding Ukrainian businesses via financing and insurance.

This additional aid is on top of the more than $20 billion in economic and development assistance the United States has previously provided to Ukraine, Blinken added.

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