EU and its partners to ensure stable financial support for Ukraine for years to come

The European Union has confirmed its readiness to ensure, together with its international partners and financial institutions, stable and predictable financial support for Ukraine for the years to come, which will be designated, including for the post-war reconstruction of the country.

As Ukrinform reports, this is stated in the text of the European Council conclusions on Ukraine and security and defence adopted at the meeting of EU heads of state and government in Brussels on Thursday.

“The European Council underlines the need to ensure, together with partners, stable, predictable and sustainable financial support for Ukraine for the years to come. The European Council reiterates its call for the European Investment Bank, in close cooperation with the Commission and International Financial Institutions, to step up its support for Ukraine’s most urgent infrastructure needs,” the document reads.

The European leaders reaffirmed their commitment to supporting Ukraine’s repair, recovery and reconstruction, in coordination with international partners, including in the areas of psychological and psychosocial rehabilitation and demining assistance. “European Council took stock of the work done regarding Russia’s immobilised assets, and invites the Council, the High Representative and the Commission to take work forward, in accordance with EU and international law, and in coordination with partners,” reads the resolution.

As reported, the European Union agreed on the provision of EUR 18 billion in macro-financial assistance to Ukraine.

Last week, the European Commission announced a proposal to amend the multi-year EU budget for 2024-2027 to include the disbursement of EUR 50 billion for Ukraine’s recovery and reconstruction, as well as the continuation of reforms on the path to EU membership.

These additions to the multi-annual EU budget must be formally approved at the level of the European Parliament and the Council of the EU.