The European Commission will create an equity fund to help Ukraine

Oleksandra Amru

The European Commission plans to create an equity fund from which assistance will be provided to Ukraine.

German Chancellor Olaf Scholz said this at a press conference after meeting with Ukrainian President Volodymyr Zelensky on the sidelines of the Ukraine Recovery Conference 2024 in Berlin.

Scholz said that Germany, together with its European partners, are already determining the decisive guidelines and the most important prerequisites for the successful recovery of Ukraine.

As part of this task, Germany expands economic relations with Ukraine and attracts support from all public and private forces.

"The recovery of the country will require large investments, and this is impossible without private capital. We are talking about the restoration of the country, a future member of the EU. Ukraine has huge potential in the field of renewable energy sources and hydrogen, as well as such promising sectors as digitalization and IT, health care and the pharmaceutical industry," he noted.

Scholz noted that Germany, together with its European partners, supports the economic development fund and strives to expand it. This involves providing assistance primarily to small and medium-sized enterprises.

In addition, Scholz emphasized that Ukraine currently needs opportunities to improve the access of Ukrainian business to European capital.

"Thatʼs why I want to boast that the European Commission has just announced the creation of an equity fund that will mobilize important funds for Ukraine," the chancellor said.