The European Union (EU) will cover 45% of all Ukraineʼs reconstruction financing needs until 2027, European Commission President Ursula von der Leyen said in London at an international conference devoted to the reconstruction of Ukraine.
"By 2027, the deficit in the Ukrainian tax system will amount to about €60 billion. The needs for rapid recovery will amount to about €50 billion. This means that the total deficit will amount to €110 billion by 2027. That is why yesterday I proposed to EU members to cover 45% of this deficit. This is approximately €50 billion for Ukraine," von der Leyen noted.
According to her, this financing will be provided in the form of European grants, loans, as well as at the expense of previously frozen Russian assets.
"We will work with Ukraine as long as necessary. Today we will discuss investment and reform planning in detail. This plan can become an anchor for all international donors. We must have predictability. This will facilitate our coordination and maximize our impact,” she stated.
- The day before, the European Commission offered to allocate €50 billion in financial aid to Ukraine in the form of grants and loans. According to von der Leyen, this aid will provide perspective and predictability for the government in Kyiv, as well as "stimulate other donors to step up."