The European Union Is Ready to Rebuild Ukraine

by Olha Povaliaieva
Wednesday, April 20, 2022
The European Union Is Ready to Rebuild Ukraine

EU countries agreed to create a trust fund for post-war assistance to Ukraine and cover most of the costs of the country's reconstruction

According to Bloomberg, the solidarity trust fund for Ukraine will be created according to the template of a post-COVID trust. The European Commission announced to the diplomats of the EU member states about the development of a universal instrument. The fund will take into account long-term needs, and financing will take place, taking into account the word of the government of Ukraine.

The European Union also noted that it is ready to take on most of the investment in war-torn Ukraine. The exact amount is not disclosed, but we are talking about hundreds of billions of euros over a decade.

To date, the amount for the restoration of Irpin in the Kyiv region has already been approximately calculated. According to the mayor of the city Oleksandr Markushin, this is no less than $1 billion. Of these, the reconstruction of the housing stock will cost about $850 million, and the city infrastructure — a preliminary $150 million.

The president of Ukraine spoke about the destruction of Mariupol.

"95% of all buildings, 95% destroyed in Mariupol! It is one of the largest cities not only in Ukraine but also in Europe. 500.000 inhabitants. 500.000 people. How many of them were killed — no one knows. No one knows how many people remain. Nobody knows," Volodymyr Zelenskyy.

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