EU Unveils €2.3 Billion Plan to Support Ukraine's Reconstruction Efforts

At the Ukraine Reconstruction Conference held in Rome, European allies reaffirmed their commitment to supporting Ukraine in its recovery journey. The European Union announced a substantial financial package worth 2.3 billion euros, aimed at mobilizing over 10 billion euros in investments for Ukraine's growth and reconstruction. This package comprises 1.8 billion euros in loan guarantees and more than 500 million euros in grants, focusing on energy and transport investments. Additionally, a 220 million euro fund will be established to encourage private sector involvement.

German Chancellor Friedrich Merz emphasized the importance of private investment, stating that the public sector alone cannot bear the massive reconstruction costs. He also urged US President Donald Trump to maintain strong support for Ukraine alongside European partners. The Chancellor stressed the significance of Ukraine's integration into the European Union, highlighting the need for reform in fighting corruption and strengthening the rule of law.

Ukrainian President Volodymyr Zelenskyy called for increased defense investments, particularly in air defense systems, to counter relentless Russian attacks. He underscored the urgency of stopping Russian drones and missiles, emphasizing the need for financial resources to bolster Ukraine's defenses.

The conference, co-hosted by Italy and Ukraine, also addressed new sanctions against Russia, with Merz urging Slovakia to support the EU's latest sanctions package. Meanwhile, Czech President Petr Pavel unveiled a plan for Ukraine's post-war reconstruction, focusing on economic stabilization, investment attraction, and EU accession acceleration.

Despite ongoing challenges, the conference highlighted the unified international effort to support Ukraine's recovery and resilience amid continued hostilities from Russia.