We are talking about a “long and ambitious project” of reconstruction and modernization that Europe can begin now, during the war.
The European Parliament is ready to support the creation of a fund of 50 billion euros, intended to support the restoration, reconstruction and modernization of Ukraine. However, Kyiv must create a recovery plan. Ukrinform reported this on Monday, October 16.
It is noted that the vote is scheduled for Tuesday, and the final debate took place at the European Parliament meeting the previous day.
“It is very important to reach an agreement before the end of the year so that Ukraine can receive support as soon as possible,” said Johannes Hahn, European Commissioner for Budget and Management.
He also emphasized that the Ukrainian government should create a recovery and reconstruction plan with a detailed timetable for investment and reform, which is also required as part of the EU accession process. “We are already working with Ukraine to create such a plan,” Khan added.
Speaker Eider Gardiazabal Rubial emphasized the importance of using the Russian frozen assets fund: “Russia must compensate Ukraine for the damage and destruction caused. Therefore, it is necessary to develop a legislative framework to introduce a mechanism providing for the confiscation of Russian assets, which will be used to compensate for the damage caused.”
Another speaker at the debate, Michael Gahler, emphasized that “we are talking about a long-term and ambitious project” that Europe is starting now, when the war is not over, because it is ready to cooperate with Ukraine in his Future of Europe. “This money is not just a loan, we want to see it in investment projects, in private investments in the economy,” said the deputy.
He also called on his colleagues to complete all the formalities this year so that the financial support does not last until the beginning of 2024. “It is very important that Ukraine not only win the war, but strengthen democracy at all levels,” said Gallery.
Let’s recall that on October 5, the European Parliament Committees on Budget and Foreign Affairs supported the creation of a special fund for Ukraine worth 50 billion euros, intended to support the restoration, reconstruction and modernization of Ukraine in 2024-2027.
Before this, the European Parliament approved a revision of the EU budget for 2021-2027, which contained a provision for the creation of a special Ukrainian fund of 50 billion euros.
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Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.