Britain, the United States and the European Union on Wednesday pledged billions of dollars and more euros to help rebuild Ukraine, as British Prime Minister Rishi Sunak announced the launch of a new program to encourage powerful companies to invest in it.

Welcoming the new promised aid, Ukrainian President Volodymyr Zelenskyy emphasized that his country needs concrete commitments to help it not just recover from the war, but become a strong member of the Western world.

After nearly 16 months of war that destroyed homes, hospitals and critical infrastructure across Ukraine, British Prime Minister Rishi Sunak urged businesses and heads of state attending a conference on Ukraine’s recovery in London to do more to help the country , which Russia attacked on February 24. last year.

Turning to the main issue that concerns most companies wishing to invest in Ukraine – war damage insurance, Sunak announced a program called the Framework Program of the London Conference on War Risk Insurance, which will help reduce risks for investors.

Despite the bombastic title of the announced plan, Sunak offered few specific details about how it would work.

But he assured that “together with our allies, we will support Ukraine’s defense and counteroffensive, and we will support Ukraine as long as it takes as long as they continue to win this war.”

Britain is counting on the support of investors to help rebuild Ukraine

Sunak also said the London-based event, attended by more than 1,000 government and public sector leaders, was “a huge step forward in helping insurers secure investment in Ukraine, removing one of the biggest hurdles and giving investors the confidence they need to act.”

Sunak, originally a financier, also unveiled a number of other measures, including an additional $3 billion in guarantees to unlock the World Bank’s loan program for Ukraine, which the president of the financial institution said will continue to help “people rebuild their lives after the destruction.”

The President of the European Commission recalled the statement made a day ago, when he announced that the executive power, which he heads, proposed a package worth 50 billion euros for Ukraine, which will be distributed over 4 years.

US Secretary of State Anthony Blinken, who recently returned from a visit to China, pledged another $1.3 billion in aid.

But President Volodymyr Zelenskyi, who attended the event via video conference, said his country needed more concrete help with “real projects” to help Ukraine’s economy grow.

Huge sums were invested in the reconstruction of cities and infrastructure in Ukraine

“It is necessary to move from agreements to real projects,” Zelensky urged, adding that the Ukrainian delegation present at the conference will present “concrete things” that Western partners can help Kyiv with.

Ahead of talks in London, a senior Ukrainian official said Kyiv wanted at least $40 billion as the first part of a “Green Marshall Plan” to rebuild its economy after the war.

According to World Bank estimates, the recovery of Ukraine will cost more than 400 billion dollars, which is three times higher than the country’s gross domestic product. Last September, the International Financial Organization estimated the cost of rebuilding the country at 350 billion, but since then Russia has launched new waves of attacks on Ukrainian cities and infrastructure, hoping to undermine its energy infrastructure in winter.

The People’s Deputy Lesya Vasylenko recently set aside an amount 10 times larger – 4 billion dollars – for the reconstruction of her country.

“But, of course, the fighting continues, the bombing continues, day and night, ‘courtesy of Russia’, and all this is wreaking havoc, causing massive destruction of critical infrastructure necessary for the functioning of the country, necessary for the life of communities. “, he said. She apologized to Sky News.

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