UK announces $380 million Ukraine support package ahead of key recovery conference

The U.K. announced on June 24 that it will commit 290 million pounds ($382 million) in support to Ukraine, primarily to help with energy infrastructure and anti-corruption work, just ahead of the Ukraine Recovery Conference in Poland on June 25-26.

The announcement also came hours after a new call for 650 million euros ($740 million), the estimated cost of protecting Ukraine's energy infrastructure ahead of the winter, when Russia is expected to lay siege to it again.

"Ukraine needs long-term support both to get through the conflict and to rebuild in the future," U.K. Foreign Minister Yvette Cooper said.

"That is why at this year's Ukraine Recovery Conference, we are announcing a multi-million-pound package to power Ukraine's homes and critical infrastructure, back its businesses, and drive improvements in education and justice."

The two main funding pledges are 65 million pounds ($85 million) to co-finance two new wind farms and extend loans to small and medium enterprises, and a 210 million-pound ($276 million) deal for the U.K.-based Urenco to provide nuclear fuel to Ukraine's national power company Energoatom.

That latter pledge is not entirely new, having been unveiled already the week before by outgoing U.K. Prime Minister Keir Starmer at the G7 Summit in France.

The U.K. also intends to contribute to EU support initiatives for Ukraine, for example, the 13 million pound ($17 million) investment in the EU Flagship Fund, which aims to reach 500 million euros ($568 million) by the end of the year, and 2.4 million pounds ($3.2 million) for the EU's Anti-Corruption Initiative.