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Nearly 900 days after the Russian invasion of Ukraine, a Ukraine Recovery Conference will be held in Berlin to ensure that Ukraine can continue to defend itself. At the Recovery Conference, European Commission President Ursula von der Leyen announced a series of new initiatives to help Ukraine remain the master of its future and move closer to the European Union.
EU side at the conference;
- Agreements worth €1.4 billion were signed with partner banks to attract private sector investment in Ukraine,
- Special support for equity investments in Ukraine was announced to improve financing for Ukrainian businesses, especially SMEs and start-ups, which can help modernize the Ukrainian economy,
- Due to the progress made on the Ukraine Plan, which includes anti-corruption reforms and an investment strategy, it was announced that an additional €1.9 billion will be made available from the EU's Ukraine fund until the end of June,
- Profits from Russian assets immobilized for investments in Ukraine's defense and reconstruction will reportedly be transferred to around 1.5 billion euros by July.
The European Union, in its proactive stance, has raised around €500 million for urgent repairs in Ukraine's energy sector through the Energy Support Fund. The EU Civil Protection Mechanism has successfully mobilized over 15,000 solar panels to bolster Ukraine's energy sector. In a continued show of support, the rescEU plans to provide another 1000 electricity generators through its strategic reserves. Additionally, the European Union has agreed to exempt Ukraine from financial obligations related to its participation in 14 EU programs, further demonstrating its commitment to Ukraine's recovery.
Thus, the total financial, humanitarian, emergency, budgetary, and military assistance provided by the European Union to Ukraine since the start of the Russian aggression has amounted to nearly 100 billion euros.
Source: https://commission.europa.eu/news/eu-bolsters-support-ukraines-recovery-2024-06-11_en
