EU to cover 45% of Ukraine's funding needs by 2027 – von der Leyen
The European Union will cover 45% of all needs of Ukraine in financing its recovery until 2027, European Commission President Ursula von der Leyen has said on Wednesday in London at the Ukraine Recovery International Conference.
"Until 2027, Ukraine's remaining fiscal gap is about EUR 60 billion. The needs for fast recovery are about EUR 50 billion. That makes in total EUR 110 billion until 2027 that are not covered. Therefore, yesterday I proposed to EU Member States to cover 45% of this gap – this is in total EUR 50 billion for Ukraine," von der Leyen said.
According to her, this funding will be provided in the form of European grants, loans, as well as at the expense of previously frozen Russian assets.
"We will work with Ukraine on a corresponding plan for investment and reforms. This plan could also become an anchor for all international donors, including the private sector. This will help our coordination and maximise our impact," she said.
As reported, on the eve of the conference, the European Commission proposed to allocate EUR 50 billion of financial assistance to Ukraine in the form of grants and loans.
Advertising
Advertising
MORE ABOUT
Ukraine and allies often have different views on ending war - Zelenskyy
11:22, 18.05.2024
Joint projects between Taiwan and the Czech Republic to help Ukrainians are unique – representative of Czech govt
18:41, 17.05.2024
Head of NATO Military Committee: Ukraine demonstrates capability to achieve unprecedented success on battlefield, but needs our help
14:06, 16.05.2024
Rasmussen-Yermak Intl Task Force suggests setting time frame for Ukraine's affiliation with NATO – until July 2028
16:04, 14.05.2024
Ukraine, Serbia agree to hold first meeting of Intergovernmental Commission on Trade, Economic and Cooperation since 2013 – Kuleba
18:49, 13.05.2024
LATEST
One dead, five injured as a result of enemy shelling in Vovchansk community - prosecutor's office
16:57, 18.05.2024
Traffic resumed near Ocean Plaza shopping center in Kyiv after damage to heating network – city administration
16:43, 18.05.2024
Reintegration Ministry on 80th anniversary of Crimean Tatars deportation: Russia follows this criminal practice
16:21, 18.05.2024
Air defense shot down enemy missile over Kryvy Rih district – regional administration head