19.04.2022, 17:19
Bloomberg: EU May Cover Ukraine's Post-War Reconstruction Costs
Source: OREANDA-NEWS
OREANDA-NEWS. The European Union plans to set up a trust fund to finance reconstruction work in Ukraine. This was reported by Bloomberg, citing sources familiar with the situation.
The European Commission allegedly told diplomats from EU member states that work is currently underway to create an aid instrument that will focus on the country's long-term needs. It is assumed that Brussels will use the experience of recovery after COVID-19.
It is not yet clear how much of the funds will be provided through grants and how much through loans, Bloomberg sources said. Preliminary calculations showed that Brussels could spend "hundreds of billions of euros" on post-war aid to Ukraine.
Earlier it became known that Estonia promised the most assistance to Ukraine among all countries in the world in relation to its own gross domestic product (GDP).
With the start of the Russian special operation, Estonia pledged to provide assistance to Ukraine in the amount of almost 0.8% of its own GDP. Next come Poland (0.2%) and Lithuania (0.1%).
The European Commission allegedly told diplomats from EU member states that work is currently underway to create an aid instrument that will focus on the country's long-term needs. It is assumed that Brussels will use the experience of recovery after COVID-19.
It is not yet clear how much of the funds will be provided through grants and how much through loans, Bloomberg sources said. Preliminary calculations showed that Brussels could spend "hundreds of billions of euros" on post-war aid to Ukraine.
Earlier it became known that Estonia promised the most assistance to Ukraine among all countries in the world in relation to its own gross domestic product (GDP).
With the start of the Russian special operation, Estonia pledged to provide assistance to Ukraine in the amount of almost 0.8% of its own GDP. Next come Poland (0.2%) and Lithuania (0.1%).
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