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The European Union will cover most of the costs of rebuilding Ukraine – Bloomberg

The European Union intends to cover most of the costs of Ukraine’s post-war reconstruction. A solidarity trust fund will be set up for this purpose.

This was reported by Bloomberg. According to the publication, EU members have already announced that they have to pay the bulk of these costs. In particular, the European Commission has already informed diplomats about the work on an instrument that will focus on Ukraine’s long-term needs.

This fund will be modeled on the European COVID fund and will finance investments and reforms in agreement with the Ukrainian government.

At the same time, according to the publication, it is still unknown how grants and loans will be distributed. Sources have confirmed that European Commission President Ursula von der Leyen has not yet announced the amount, as the war is still ongoing. However, the figure will reach hundreds of billions of euros.

The issue of Ukraine’s post-war reconstruction and possible military reparations is expected to be in the spotlight in the coming weeks, as senior officials in Brussels and Washington plan to discuss ways to financially support Kyiv and ensure that huge sums are used.

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Source Unian
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