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UK donor conference on Ukraine reconstruction closes with €60 billion in pledges

An international conference on the funding of Ukraine’s reconstruction drew to a close in London, with foreign donors pledging €60 billion in new financial support, UK Foreign Minister James Cleverley said at its closing session

Ukraine's Prime Minister Denys Shmyhal, left, shakes hands with Switzerland's Foreign Minister Ignazio Cassis during the closing session on the second day of the Ukraine Recovery Conference in London

Foreign donors have pledged 60 billion euros ($66 billion) of new financial support for Ukraine, the UK said Thursday, as an international conference aimed at funding the war-ravaged country's reconstruction closed.

"We had not envisaged this to be a pledging conference. Nevertheless, today at this conference, we can announce a combined 60 billion euros in support to Ukraine," said James Cleverly, foreign minister of the UK, which hosted the meeting.

The commitments from governments and international organisations target supporting Ukraine in the short- and medium-term, Cleverly said at the closing session of the London conference. "This provides us with the medium-term predictable support that will unlock the macro-economic stability that Ukraine needs," he said, adding that efforts were now focused on unlocking "the enormous potential of the private sector".

Nearly 500 companies from 42 countries have pledged to play their part, Cleverly said.

The bulk of the 60 billion euros comes from a 50-billion-euro aid package that the European Union plans to roll out until 2027, which was announced on the eve of the conference.

The United States also announced $1.3 billion in aid, targeting the energy and infrastructure sectors in particular.

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