EU announces $3.4 billion in Ukraine reconstruction support
ROME - The European Commission on July 10 announced 2.3 billion euros (S$3.4 billion) in support to Ukraine to help it rebuild after the damage caused by Russia's full-scale invasion.
The funds include 1.8 billion euros in loan guarantees and 580 million euros in grants from international and bilateral public financial institutions, EU Commission President Ursula von der Leyen said at a conference in Rome on plans for Ukraine's reconstruction.
Hundreds of Russian drones and more than a dozen missiles bore down on Kiev on July 10, killing two people in the second massive air strike in two days, as Ukraine sought critical aid from its partners at the meeting in Rome.
The 2.3 billion euros is part of the Ukraine Investment Framework, which Ms von der Leyen said is expected to mobilise up to 10 billion euros of investments in Ukraine.
She also announced the creation of a new equity fund for the reconstruction of Ukraine, backed by the European Investment Bank, France, Germany, Italy and Poland.
With an initial capital of 220 million euros, the fund aims to mobilise 500 million euros by 2026, the Commission said. REUTERS
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