The EU plans to allocate 40 billion euros over the next three years for the reconstruction of Ukraine, announced today the European Commissioner for Enlargement Marta Koss at a meeting in Brussels dedicated to the economy of the country affected by Russian military strikes, BTA reported.
According to her, these funds will be mainly private investments and will be provided for the reconstruction of destroyed infrastructure according to European requirements. The time is right for investments in Ukraine, this is not a matter of charity, but of long-term investment, Koss said.
The European Commissioner recommended that Kiev provide predictability and security for investors. Kos noted that the EU supports Ukrainian reforms related to the judiciary, the fight against corruption, public procurement and the tax system.
According to the European Commissioner, the EU's neighbors can be a threat, but they can also contribute to security, and Ukraine is setting an example with its contribution to protecting Europeans. The best we can do is to help Kiev develop its economy and have secure energy supplies, Kos pointed out. She added that the full connection of the energy networks of Ukraine and the EU is expected from 2027.
Ukrainian Prime Minister Denys Shmyhal specified that, according to World Bank calculations, his country will need about 524 billion euros for reconstruction in the next ten years. According to Ukrainian Deputy Prime Minister Olga Stefanyshyna, her country is ready to develop investment plans even before the end of the war.