EU Foreign Affairs Council to discuss Ukrainian recovery plan – Borrell
Josep Borrell. Photo: Kristin Olsson/TT News Agency via Reuters
The main focus of today's EU Council of Ministers of Foreign Affairs meeting will be implementing Ukraine's recovery plan, which is a key topic for European government officials. The Ukrainian government has presented this plan as part of the multi-year EU aid package worth 50 billion euros for the years 2024–2027.
EU's High Representative, Josep Borrell, announced this today in Brussels before the meeting of the foreign affairs and development ministers.
"The main topics, as always, will be Ukraine, Gaza, and other conflicts. We have to look at what is happening in Africa, particularly Sudan. But the main issue today will be the discussion of the Ukrainian plan, which was presented by the government of Ukraine so that (processes of) reconstruction and reforms could move forward together," Borrell said.
He advises to avoid destruction in order to prevent having to invest in restoration heavily.
At this moment, Ukraine has undergone significant destruction and continues to be bombarded by Russian troops; its electrical system has been "absolutely destroyed," Borrell emphasized.
"We must support Ukraine, first of all, in the military dimension. Yesterday, we did this during the defense industry conference. Today, we will consider mobilizing 50 billion euros to support reforms in the country and Ukraine itself," the EU high representative said.
It should be noted that on February 1, 2024, the European Council unanimously supported the creation of the Ukrainian Fund in the amount of 50 billion euros in the multi-year budget of the EU for 2024-2027.
One condition for making these payments was Ukraine's submission of a national plan for reconstruction and reforms that would contribute to the country's democratic development and approach to EU membership.
For reference:
As reported at the European Council meeting, all 27 leaders of the European Union reached a consensus decision regarding adopting the Ukrainian Fund in the multi-year EU budget for 2024-2027 in the amount of €50 billion. Before that, Hungary blocked the adoption of the decision.
In his turn, Zelensky, during a video address to the participants of the special EU summit in Brussels, said that the unanimous approval by the European Council of the Ukrainian fund in the amount of €50 billion is a clear signal that Ukraine and Europe will endure because trust in Europe was at stake.
It is worth noting that the Ukraine Facility program of the European Union provides 50 billion euros to Ukraine during 2024-2027.
Of this amount, 39 billion euros will be directed to the state budget to strengthen macro-financial stability.
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