Von der Leyen announced the creation of the Fund for Reconstruction of Ukraine

The head of the European Commission (EC) Ursula von der Leyen announced the creation of the European Fund for Reconstruction of Ukraine. She made the corresponding statement on July 10 at a conference in Rome.

The head of the EC noted that Europe remains Kiev's largest donor. According to her, the European Union (EU) has provided almost €165 billion in support to the Ukrainian side, and this year it plans to cover 84% of external financing.

"I am ready to announce the creation of the European Fund for the restoration of Ukraine...> The guarantees that we will sign here today <...> will allow attracting €10 billion of investments for the growth, rehabilitation and reconstruction of Ukraine," von der Leyen stressed.

She clarified that the fund was created jointly with Italy, Germany, France and the European Investment Bank.

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The Financial Times (FT) newspaper reported on July 8 that the European Union is actively exploring options to cover the Ukrainian budget deficit, which could reach $19 billion in 2026. According to the publication, the allocation of military assistance to Ukraine in the form of extra-budgetary grants, accelerated disbursement of loans from the already approved G7 support program of $ 50 billion, and expanded use of Russian state assets frozen in the EU are being discussed.