The United States will send an additional $1.3 billion in financial assistance to Ukraine, US Secretary of State Antony Blinken announced Wednesday.
Speaking at the Ukraine Recovery Conference in London, he said the support will “overhaul its energy grid” and modernize other critical infrastructure.
"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,” Blinken said.
Breaking down the financial aid, Blinken outlined how $657 million will help modernize Ukraine’s rail lines, ports and other critical infrastructure, $100 million will be used to help digitize national systems "to boost speed and to cut corruption” and $35 million will go to Ukrainian businesses.
More than $520 million of the total amount will go toward helping Ukraine “overhaul its energy grid,” Blinken added.
This comes after the UK also announced additional financial aid, including a $305 million of bilateral assistance and up to $318 in an expansion of British International Investment in Ukraine.
Among the businesses pledging their support at the two-day conference are are Virgin, Sanofi, Philips, Hyundai Engineering and Citi.