Ukraine Gate – Kyiv – July 3, 2022- Ukraine will propose at a conference on July 4-5 in the Swiss city of Lugano a plan for the reconstruction of the country, which could mobilize hundreds of billions of euros, and also the volume of financial assistance for the reconstruction of Ukraine after the war, which will be provided by the European Union, may exceed 500 billion euros.
According to Bloomberg, citing sources, the Ukrainian government has discussed the project with donors, including the European Union, who will respond in the coming months.
It is also noted that Ukraine will propose at a conference on July 4-5 in the Swiss city of Lugano a plan for the reconstruction of the country, which could mobilize hundreds of billions of euros.
The nearly 2,000-page plan will outline a wide range of infrastructure and security projects, investments in the climate and digital economy, and diversification of energy resources.
European Union representatives said that the bloc will provide the bulk of the total financial assistance, which may exceed 500 billion euros. EU officials, however, have so far declined to comment as Russia’s war against Ukraine continues.
Bloomberg notes that a plan of this magnitude will also come under scrutiny by European Union governments, which are skeptical of the debt increase.
European Commission President Ursula von der Leyen will attend the conference in Lugano to present an EU-based platform to global donors, including G7 partners, multilaterals, Switzerland and Norway.
The European Union will also seek to coordinate global efforts by opening channels for the various financial instruments used by the United States and the World Bank.
The sources said von der Leyen’s team is working on a concept paper as a basis for EU discussions before finalizing any proposal. After the summer, the European Commission and Germany’s G7 presidency will hold a conference to push the plan forward. The Czech government, which holds the EU presidency for six months, plans to organize Donor conference in November.
President Volodymyr Zelensky also emphasized that the restoration of Ukraine should be the largest economic project in Europe.
He noted that already on July 4, Ukraine in Lugano will present a “national view on how to implement all this”, according to the President, the conference in Lugano can be an important step towards the restoration of Ukraine.
He added that the lands of 10 regions suffered from hostilities after Russia invaded them, so the Ukrainian authorities began to restore normal life in the liberated regions and lands on their own. A new life is only possible by attracting international opportunities.”
