The US Secretary of State Anthony Blinken said today that Washington will determine a new aid package for Ukraine as he reiterated the US commitment to support Kiev during a visit to London. The aim is to encourage private companies to invest in the reconstruction of the country after the Russian invasion.

Kyiv and London will host the Ukraine Recovery Conference on Wednesday and Thursday, where more than 1,000 foreign officials from more than 60 nations along with business leaders and international investors will discuss ways to help rebuild the country.

“President Biden has said that we will stand by Ukraine for as long as it takes, and both of our countries are deeply committed to that,” Blinken told reporters at a joint press conference with his British counterpart James Cleverley.

“We will continue to deliver on that commitment, and through a strong new US aid package that I will be able to announce tomorrow.” Blinken stated.

The two ministers stressed that the conference is focused on encouraging the private sector to use its resources to quickly help rebuild Ukraine, but Kiev must do its part by moving forward with reforms and the world must find a way to offers companies insurance against war and disaster damage.

“This week is about creating the necessary conditions for public sector money, of course, but mostly private sector money to finance its reconstruction”Cleverly said.

“Now, as to the exact details of how we’re going to do that, I don’t want to prejudge. The theme of the next couple of days is that Britain will make use of its experience as a global financial services centre, as a global insurance center but also because of the convening power that we have.”he emphasized.

Ukraine is seeking up to $40 billion to finance the first part of a “Green Marshall Plan” to rebuild its economy, including developing a carbon-free steel industry, a senior Ukrainian official said ahead of the conference.

The total will be very large, as Ukraine, the World Bank, the European Commission and the United Nations estimated in March that the cost was $411 billion for the first year of the war — a figure that could easily exceed $1 trillion. dollars.