Ukraine Relief and Reconstruction

Author (Corporate)
Series Details COM (2022) 233
Publication Date 18/05/2022
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Communication adopted by the European Commission on 18 May 2022, setting out plans for an immediate response from the European Union (EU) to address Ukraine's financing gap, as well as longer-term reconstruction framework.

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Russia's invasion of Ukraine caused terrible human suffering and massive destruction of towns and communities. Lives and livelihoods have been lost and millions of people have forced from their homes. The EU has shown its support, providing emergency assistance to support resilience, humanitarian assistance, military aid and other support. It has also put forward measures to facilitate trade, and it has activated the Temporary Protection Directive for the first time.

With hostilities taking place across the whole country, the economic situation has deteriorated rapidly. A major global financial effort is required to support Ukraine during the war, as well as to rebuild the country and provide new opportunities to its citizens. It thus became important to design the main building blocks of such effort. The European Council agreed in March 2022 to develop a Ukraine Solidarity Fund.

This Communication sets out the EU's response to address Ukraine’s immediate financing gap and the longer-term reconstruction framework.

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Reuters, 18/05/2022: EU offers 9 bln euro loan to Ukraine, prepares reconstruction - Commission
The Sofia Globe, 18/05/2022: EC proposes new 9BN euro for Ukraine, plan to cut reliance on Russian energy
EurActiv, 19/05/2022: EU Commission proposes Ukraine reconstruction platform

European Commission: Press Release, 18/05/2022: Ukraine: Commission presents plans for the Union's immediate response to address Ukraine's financing gap and the longer-term reconstruction
European Commission: Press statement by President von der Leyen on the Commission's proposals regarding REPowerEU, defence investment gaps and the relief and reconstruction of Ukraine (18 May 2022)
European Commission: Remarks by Executive Vice-President Dombrovskis and Commissioner Gentiloni on the EU's immediate response to address Ukraine's financing gap, as well as the longer-term reconstruction framework (18 May 2022)

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