Europe Expects to Pay Bulk of Ukraine’s Reconstruction Costs
- Brussels estimates hundreds of billions needed for rebuilding
- The topic will be discussed during IMF meetings in Washington
This article is for subscribers only.
The European Union is planning to establish a solidarity trust fund to finance the reconstruction of war-shattered Ukraine as member states were told they should expect to pay the bulk of the costs.
The European Commission told diplomats it’s working on an EU instrument focusing on the long-term needs of the country instead of a multilateral tool since the bloc will foot much of the bill, according to people familiar with the discussion. Modeled on the post-Covid-19 recovery fund for member states, it would finance investments and reforms in agreement with Ukraine’s government, but it’s not clear how much would be provided through grants or loans, the people said.