Brussels foresees an initial aid of 1,000 million for the most urgent needs while kyiv points to a total cost of 750,000 million
Rebuilding a Ukraine “better than the one that existed before the war” has become a central objective for the EU. This was revealed this Monday by the President of the Commission, Ursula von der Leyen, in the speech she gave in the Swiss town of Lugano before a thousand representatives from 40 States gathered these two days to prepare the foundations of the recovery of the allied country after the Russian invasion. The first step by Brussels will be the creation of a platform to detect investment needs, coordinate actions and channel resources.
The entity will bring together countries, institutions, the private sector and civil society. But international organizations such as the European Bank for Reconstruction and Development and the European Investment Bank will also be part of it. “Through the platform, the Commission can offer its extensive experience in the implementation of programs that combine reforms and investments,” stressed Von der Leyen at the Ukraine Recovery Conference, while indicating that the Old Continent has “a responsibility special interest” and a “strategic interest” in supporting Ukraine against those who want to “undermine its existence”.
The Ukrainian Prime Minister, Denys Shmyhal, also present in Lugano together with the President of the Parliament, Ruslan Stefanchuk, and a delegation of about one hundred people, quantified the cost of the reconstruction at 750,000 million dollars (about 720,000 million euros). “We think the key source of recovery should be the assets seized from Russia and the oligarchs,” he said of frozen funds reportedly worth between $300 billion and $500 billion. “They caused this massive destruction and they should be held accountable,” he said.
Ukraine, immersed in the spiral of war, has in any case urgent needs that do not allow waiting. It is precisely these demands that the EU seeks to supply with a macro-financial assistance of 1,000 million euros, which will be added to the 1,200 million in emergency loans granted during the first semester. Von der Leyen herself, backed by the Heads of State and Government of the Twenty-seven, already anticipated in May that the amount could reach 9,000 million.
«Contribution to peace»
The Ukrainian president, Volodímir Zelenski, participating by videoconference in the Lugano meeting, described the reconstruction of his country as “the greatest contribution to world peace.” During his intervention, he rescued the speech he gave to his citizens on Saturday, when he acknowledged that although “colossal investments, of billions” will be necessary, there will also be “extraordinary opportunities” for companies that decide to be part of the recovery.
“Ukraine can come out of all this as a stronger and more modern country, with a stronger judiciary and institutions, with successes in the fight against corruption, but also with a greener, more digital and more robust economy,” he added. the head of the Community Executive, while promising to help consolidate Ukraine’s status as a candidate for EU membership.
The scenario drawn by Von der Leyen looks somewhat remote with the Moscow troops in full offensive. The Russian Army continued to bombard eastern Ukraine on Monday and advanced in its plan to conquer all of Donbas after the fall of the strategic city of Lisichansk after weeks of fierce fighting. Kremlin attacks are now concentrated on Sloviansk and Kramatorsk, two major towns further west.
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