The platform to rebuild Ukraine will be used to map investment needs, coordinate action and channel resources
The President of the European Commission – Ursula von der Leyen has announced to set-up a reconstruction platform to coordinate the rebuilding of Ukraine after its war with Russia.
The announcement was made during the 2-day Ukraine Recovery Conference, which is being held in Lugano, Switzerland. The platform will be used to map investment needs, coordinate action and channel resources.
The platform will bring together countries, institutions, the private sector and civil society. It will also include international organisations like the European Bank for Reconstruction and Development and the European Investment Bank (EIB).
Taking it to twitter, Ursula tweeted,
The dream of a new Ukraine brings us here today:
— Ursula von der Leyen (@vonderleyen) July 4, 2022
Not only free, democratic, European.
But also fair, green, prosperous.
A place that Ukraine’s golden generation finally feels is their own. https://t.co/gnQSESUI5N
She further tweeted,
Rebuilding Ukraine is a generational task.
— Ursula von der Leyen (@vonderleyen) July 4, 2022
We must bring in also external advice from the brightest minds and leading global experts on reconstruction:
Together with international partners, @Bundeskanzler Scholz and I will organise a high-level conference after the summer. pic.twitter.com/r2gVpXkFfJ
Through the reconstruction platform, the European Commission will offer its extensive expertise in running programs that combine reform and investments.
Since the Russian invasion, the European Union (E.U.) has mobilized around 6.2 billion euros (U.S. $ 6.48 billion) in financial support to Ukraine. The EIB has proposed a funding structure previously used during the Coronavirus (COVID-19), to help rebuild Ukraine with an investment of upto U.S. $ 104.3 billion.
She said that Russia wants to undermine Ukraine’s very existence as a State and E.U. we will not let this happen. The President of Ukraine – Volodymyr Zelenskyy, who attended the Conference virtually, said the aim of reconstruction was “the most ambitious project of our time.” The President of Swiss Confederation – Ignazio Cassis stressed the importance of supporting Ukraine “in this time of horror, wanton destruction and grief.”
Ukraine needs U.S. $ 750 billion for a three-stage recovery plan in the wake of Russia’s invasion. It is estimated that at least 45 million square metres of housing, 256 enterprises, 656 medical institutions and 1,177 educational institutions had been damaged, destroyed or seized.
The first phase focuses on fixing things that matter to people’s daily lives such as water supply. The second phase focuses on fast-recovery components that will be launched as soon as the war ends such as setting-up temporary housing, hospitals and school projects. The third stage aims to transform the country over the longer term.
