The EU wants to give Ukraine the proceeds of frozen Russian assets

Quote:

"Yesterday the European Commission proposed to create a new Facility for Ukraine within the budget of the European Union. It will ensure constant financial support until 2027. The Facility will be financed in three ways: with grants from the EU budget; with loans raised on capital markets; and eventually with proceeds from the immobilised Russian assets. We will come with a proposal for these assets before the summer break"

"Now, what are the estimated needs? Until 2027, Ukraine‘s remaining fiscal gap is about EUR 60 billion. The needs for fast recovery are about EUR 50 billion. That makes in total EUR 110 billion until 2027 that are not covered. Therefore, yesterday I proposed to EU Member States to cover 45% of this gap – this is in total EUR 50 billion for Ukraine. We will work with Ukraine on a corresponding plan for investment and reforms. This plan could also become an anchor for all international donors, including the private sector"

Source: PubAffairs Bruxelles