On Thursday, the European Commission announced 2.3 billion euros ($2.7 billion) in support to Ukraine. The funds are aimed at rebuilding the country after the damage caused by Russia’s full-scale invasion.
At a conference in Rome on plans for Ukraine’s reconstruction, EU Commission President Ursula von der Leyen said the funds are made up of 1.8 billion euros in loan guarantees and 580 million euros in grants from international and bilateral public financial institutions.
On Thursday, hundreds of Russian drones and more than a dozen missiles targeted Kiev, killing two people in the second large air strike in two days, as Ukraine sought urgent assistance from its partners at the summit in Rome.
According to von der Leyen, the 2.3 billion euros is part of the Ukraine Investment Framework, which is expected to mobilize up to 10 billion euros of investments in Ukraine.
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She also announced the formation of a new equity fund for Ukraine’s reconstruction, funded by the European Investment Bank, France, Germany, Italy, and Poland.
The commission said, with the initial capital of 220 million euros, the fund aims to mobilize 500 million euros by 2026.
