Home LATEST NEWS The European Union announces the creation of a “Solidarity Fund for Ukraine”...

The European Union announces the creation of a “Solidarity Fund for Ukraine” | War in Ukraine

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The President of the European Council, Charles Michel, indicated on Tuesday that the European Union (EU) intends to create a fund intended for the reconstruction of Ukraine, whose economy and infrastructures are devastated by the war launched nearly two months by Russia.

” L’European Union will develop the Solidarity Fund for Ukraine for the immediate support and reconstruction of a democratic Ukraine”, he announced on Twitter, after a videoconference call with the leaders of several European countries , as well as with US President Joe Biden, Canadian Prime Minister Justin Trudeau and Secretary General theNorth Atlantic Treaty OrganizationJens Stoltenberg, in particular.

The European Commission has informed European diplomats that the initiative is focused on the country’s long-term needs, according to Bloomberg sources. Without precisely quantifying the sum necessary for the reconstruction of Ukraine, while the war continues to cause considerable damage, it would estimate at hundreds of billions of euros, over decades, the necessary aid.

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According to these same sources, the European Commission would have warned the European ambassadors that theEuropean Union would bear a large part of the bill, specifying that it was therefore not counting on a multilateral tool.

More details will follow.

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