The European Council President Charles Michel said on Friday that the European Union is considering creating a solidarity fund for Ukraine to help provide basic services and fulfil individuals’ immediate needs.
‘The Fund would provide cash liquidity for sustained support to the authorities and, in the long run, serve as the backbone for the restoration of a free and democratic Ukraine once hostilities have ended,’ Michel stated in a tweet.
According to Michel, partners could donate to the fund through an international donors conference.
The matter will be reviewed in a summit of EU leaders next week, according to an EU official, who also stated that the presidents highlighted the importance of Ukraine maintaining access to international financial support to fund imports of basic requirements and military equipment.
The Russian invasion has cut Ukraine off from international financial markets, and the fund could provide the liquidity needed to keep government services running, continue defence efforts, and provide basic services, according to the official.
Post Your Comments