Biden reaffirms support for Ukraine’s recovery

U.S. President Joe Biden, together with international partners, has reaffirmed his commitment to helping Ukraine rebuild.

“We’re committed to providing Ukraine with the resources it needs to build back stronger than it was before,” Biden said on the sidelines of the UN General Assembly in New York.

It is no secret that the Russian attacks have caused significant damage, the U.S. leader said, but Ukraine is economically resilient.

Russia launched its full-scale invasion of the neighbouring country in February 2022.

At the event, which was also attended by Ukrainian President Volodymyr Zelensky and European Commission President Ursula von der Leyen, Biden presented a declaration by more than 30 countries and the EU in support of reconstruction.

The aim is to hold Russia accountable for the damage and to rebuild Ukraine in the long term.

“Today, we’re launching a joint declaration of support for Ukraine's recovery and reconstruction to make it clear we stand with Ukraine now and in the future,” Biden said.

In June, the seven major Western industrialised nations (G7) decided to use interest income from frozen Russian assets to fund a $50 billion U.S. loan package for Ukraine.

“Russia’s sovereign assets would be immobilised until Russia ends its aggression and pays for the damage it caused,” Biden explained in New York.