Brussels: Europe and the Arabs
A statement by the European Commission in Brussels said that at the Ukraine Recovery 2024 conference held yesterday, Wednesday, in Berlin, European Commission President Ursula von der Leyen announced the signing of new guarantee and grant agreements worth 1.4 billion euros to support Ukraine’s recovery and reconstruction, as part of the investment framework for the Ukraine Facility. These agreements confirm the European Union's firm commitment to supporting Ukraine for as long as possible.
Ursula von der Leyen, President of the European Commission, said: “The European Union is mobilizing financial strength to help Ukraine resist and recover. From the proceeds of frozen Russian assets, to the €50 billion Ukraine Facility, we will make sure Ukraine gets all the support it needs.” “Today, we are starting our investment plan within the framework of this facility, signing the first agreements worth 1.4 billion euros with our partner banks to attract more private sector investment and the business community wants to increase its contribution. Together, we will help Ukraine resist and recover.”
These are the first agreements signed with international and bilateral public financial institutions under the Investing in Ukraine Framework, the investment arm of the EU Ukraine Facility worth up to EUR 50 billion to support Ukraine in the face of Russia's ongoing aggressive war and on its path towards EU membership. .
These agreements, consisting of €1 billion in loan guarantees and €400 million in blended financial grants, will benefit private companies, including small and medium-sized enterprises, municipalities and Ukrainian state-owned enterprises. They will focus in particular on repairing, rehabilitating and developing energy infrastructure, which Russia has heavily targeted in recent months. Other programs target the transportation and municipal sectors, and provide access to financing for small and medium-sized enterprises, especially war-affected companies in non-occupied and frontline areas. The Commission published the full list of programs that aim to launch investments worth 6 billion euros.