More EU financial aid for war-torn Ukraine

Ukraine’s recovery process “goes hand-in-hand” with its path to European Union accession. This is one of the messages from EU leader Antonio Costa who was speaking on Thursday (25 June) at the Ukraine Recovery Conference in Poland. The event was co hosted by Poland and Ukraine and comes just ten days after the key decision to open the first cluster of Ukraine’s accession negotiations. In her speech at the same event EC President Ursula von der Leyen announced the first disbursement of €3.2 billion in budgetary support under the macro-financial assistance of the €90 billion Ukraine support loan as well as the first instalment of the €6 billion defence package to support drone procurement to be disbursed in the coming days.

Costa said that, for millions of Ukrainians “the future is defined by our shared destiny.” This means, he said, aligning legal, economic, and institutional frameworks with European standards. “I reaffirm the commitment made by European Union leaders four and a half years ago: Ukraine’s future is in the European Union. The Portuguese-born official noted, “As a first important step, accession negotiations opened formally last week, and we aim to open all remaining clusters as soon as possible.

“The process remains merit-based, but Ukraine has already achieved remarkable reforms under extraordinary circumstances. “We will continue working together to sustain this progress. “We know what is at stake and what this means to the Ukrainian people. “True reconstruction is about people. It means creating quality jobs, restoring high-quality education, and ensuring that vulnerable groups, veterans, and trauma survivors are fully included in society.” The EU Council president added, “Ukraine’s reconstruction is a major contribution to lasting peace in Europe. It shows that freedom and democracy can prevail over autocracy. Let us remain united in this effort.

“Together, we can help Ukraine rise - stronger, freer, within the European Union, and more prosperous than ever. And to help Ukraine, that means that Ukraine will help Europe to be better and stronger,” said Costa, who was speaking in Gdańsk. His comments were endorsed by von der Leyen who said: “The prosperous Ukraine of tomorrow requires massive investment today. That’s why we are helping cities and towns to rebuild. We are supporting the resilience of the energy sector. “We are providing financing to businesses, including in frontline regions. Our ambition is not only to help Ukraine endure, it is to help Ukraine grow and prosper as a free and European country. The message to investors is simple – when you invest in Ukraine, you invest in the future of Europe," she said.

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