The exact amount of the funds is unknown at this time. According to Brussels, it will amount to hundreds of billions of dollars.
The European Union will set up a trust fund to finance the reconstruction of war -damaged Ukraine, covering most of the necessary funds. This was reported on April 19 by Bloomberg.
The European Commission noted that a tool has been developed that focuses on the long -term needs of the country. At the same time, the block will pay most of the fees, agency interlocutors stressed.
Created after the COVID-19 Recovery Fund for Member States, it will fund investments and reforms agreed with the government of Ukraine. So far, it is not clear how much money will be provided through grants or loans.
As the war continued, the EU executive was reluctant to provide exact figures, Bloomberg wrote, but told EU ambassadors that the amount would reach hundreds of billions of euros over decades.
Most of the initial assistance will go to rebuilding infrastructure and supporting the provision of public services. The agricultural sector, as one of the main types of economic activity in Ukraine, will also require special attention.
The EU recalled that the bloc had already allocated 600 million euros in soft loans since the start of the war and expedited the approval of an additional 600 million euros that could be provided this summer.
The European Union is also making an additional loan package, which could be the same size.
Separately, the IMF approved $ 1.4 billion in emergency financing for Ukraine.
Earlier, the Prime Minister of Ukraine Denys Shmyhal said that Ukraine’s losses from the war with Russia, taking into account the losses in subsequent years, amount to more than a trillion dollars.
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Source: korrespondent
