More than 30 countries and the European Union adopted the Joint Declaration of Support for Recovery and Reconstruction of Ukraine during a meeting in New York on Sept. 25, Ukraine's Presidential Office said.
Backed during the Group of Seven (G7) + Ukraine meeting, the document contains several points including helping to rebuild Ukraine on its path to EU accession, and providing about $50 billion by the end of 2024 in profits from frozen Russian assets.
"I'm determined to ensure that Ukraine has what it needs to prevail in its fight for survival. Tomorrow, I will announce a series of actions to accelerate support for Ukraine's military," U.S. President Joe Biden said.
The U.S. authorized a new military aid package for Kyiv worth $375 million on Sept. 25. Washington is also reportedly planning a military aid package worth over $8 billion, which is expected to be announced when President Volodymyr Zelensky visits the White House on Sept. 26.
The countries said that by collectively supporting Ukraine's reconstruction they will ensure that Russia is unable to achieve its goals, as well as contribute to the post-war stability of Ukraine's economy, according to the Presidential Office.
Zelensky said that the effort will be coordinated through the Ukrainian Donor Platform.
"It is absolutely justified that those who help us withstand now will be the first to benefit together with Ukraine from the large-scale reconstruction," he added.
The material costs of Russia's full-scale invasion of Ukraine continue to grow as Moscow's forces regularly strike the country's cities and infrastructure with missiles and drones.
The estimated cost of Ukraine's post-war recovery has risen to $486 billion over a 10-year period, the World Bank said in February. Kyiv has been searching for new sources of income, both at home and abroad, to cover these needs.
Martin Fornusek
