Von Der Leyen Pledges €2.3B for Ukraine Rebuild

European Commission

President Ursula von der Leyen attended the third Ukraine Recovery Conference Summit hosted in Rome this week. This was the occasion to reiterate the European Union's unwavering support for Ukraine and the commitment to its recovery and reconstruction efforts.

In the margins of the summit, the President stated: "Europe has been there at your side, from day one. Our resolve is unflinching, our support unwavering. Because we will always be at Ukraine's side, for as long as it takes. Now more than ever, Ukraine can count on Europe. Our solidarity continues on all fronts – militarily, financially, and politically."

Regarding financial support, President von der Leyen declared that Europe has been – and continues to be – Ukraine's largest donor since Russia's full-scale invasion. This year alone, the EU will cover 84% of Ukraine's financing needed.

She explained: "Today, the EU reaffirms its role as Ukraine's strongest partner. Not just its top donor, but a key investor in its future. With €2.3 billion in agreements signed, we aim to unlock up to €10 billion in investments to rebuild homes, reopen hospitals, revive businesses, and secure energy. This is solidarity in action. Ukraine is moving closer to the EU every day — in energy, education, roaming, and culture."

Additionally, the President announced a European Flagship Fund for the Reconstruction of Ukraine. This fund, built in partnership with Italy, Germany, France and Poland, is the largest equity fund globally to support reconstruction and will play a key role in boosting private sector investment that will be critical to reconstruction.

President von der Leyen ended her speech announcing Ukraine's readiness to move further on the path to EU accession. She stated: "Under relentless fire, Ukraine is passing reform after reform. Ukraine stands ready to proceed with the next step on the accession path. Ukraine is delivering on its reforms – now we must too. Because the accession process is based on merit. And Ukraine merits moving forward. The Commission is very clear, Ukraine is ready to open cluster 1, the fundamentals cluster."

Further, the Coalition of the Willing met in the margins of the Summit. Leaders reiterated their unwavering commitment to Ukraine's sovereignty, independence and territorial integrity. Leaders also agreed to step up action against Russia's war economy and reiterated that strong Ukrainian armed forces are the primary guarantee of the country's sovereignty and security.

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