Bloomberg: The European Union expects to pay most of the cost of rebuilding Ukraine

The European Union plans to set up a solidarity trust fund to finance Ukraine's post-war reconstruction

Bloomberg reported this.

It is noted that the Member States have been informed that they have to pay the bulk of the costs.

According to the agency's sources, the European Commission told diplomats that it was working on an EU instrument focused on the country's long-term needs.

The fund will be modeled on the recovery fund after COVID-19.

It will finance investments and reforms in agreement with the Government of Ukraine.

It is unclear how much will be provided through grants or loans.

Western countries are considering various options for recovering compensation from russia in favor of Ukraine. Among them is the confiscation of gold and foreign exchange reserves and reparations. But there are difficulties.

As the war in Ukraine is still ongoing, the EU has not announced a possible amount for recovery.

But ambassadors have been told that the figure will reach hundreds of billions of euros over decades.

Topics of post-war reconstruction and possible military reparations are expected to be discussed in the coming weeks.

Senior officials in Brussels and Washington plan to discuss ways to financially support Ukraine and how to ensure that huge sums of money are not misused.

The newspaper writes that post-war reconstruction will face serious obstacles in the form of "widespread" corruption in Ukraine and a lack of reliable oversight mechanisms.

The Netherlands, for example, has suggested that the aid instrument to Ukraine be used, inter alia, to set up structures in the country that will bring it closer to the EU and facilitate its possible accession.

To recap, the European Council agreed to establish a Trust Fund for Solidarity with Ukraine to restore it.

As reported by Rubryka, Ukraine has sent the European Commission the first part of the completed questionnaire to assess our ability to obtain EU candidate status and is already working on the second part.

Earlier, Zelenskyy's Office said that the questionnaire for obtaining the status of a candidate country for accession to the European Union, which European Commission President Ursula von der Leyen handed over to President Volodymyr Zelenskyy during her visit to Kyiv, has been completed.