First €1 Bln under “Fast Recovery Ukraine”

by Roman Cheplyk
Sunday, February 5, 2023
First €1 Bln under “Fast Recovery Ukraine”

Ursula von der Leyen announced the transfer of the first tranche for the restoration of war-torn Ukraine

During the Ukraine-EU summit, a number of decisions were made regarding assistance to Ukraine. One of them is the launch of the Fast Recovery Ukraine program. The head of the European Commission said that Ukraine will soon receive the first €1 billion to restore infrastructure destroyed by the Russian war.

"Helping now to repair the damage that Putin's bombs are doing to the energy infrastructure is one part. But rebuilding houses, roads, infrastructure, schools, hospitals is a daily job that needs to be done. That's why it's so important that we start Fast Recovery Ukraine immediately. Built into the larger recovery process. I am delighted that we can announce that the first billion Fast Recovery Ukraine will be made available…So work can begin immediately," Ursula von der Leyen.

"We reaffirmed today our determination to accompany Ukraine on its EU journey. We stand by Ukraine in its efforts to defend the country. More sanctions are coming to further thwart Russian abilities to continue its aggression," Joseph Borrell.

At the same time, Charles Michel called on states to intensify their efforts to find a solution and transfer to Ukraine the funds of the Russian central bank frozen by sanctions. The damage that Russia has inflicted on Ukraine is already at a minimum of €750 billion, and the amount is increasing daily.

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