Ukraine needs between 500 and 600 billion euros to rebuild the infrastructure destroyed by the Russian war.
This was stated on Wednesday by Vice President of the European Commission Valdis Dombrovskis, reports “European Truth” with reference to Politico .
Speaking in Marrakesh, Dombrovskis said the reconstruction effort “will require coordination from the international community, and we are ready to do so on the part of the European Union.”
The EU will also “provide great and very significant support for these reconstruction needs,” he added.
Dombrovskis noted that a proposal would be issued later this month that would “link this support for infrastructure reconstruction … with the structural reforms that Ukraine may need as a candidate for EU membership”.
The EU is working to establish a solidarity trust fund for Ukraine. This is the first time an EU official has assessed the scale of the reconstruction. However, this figure is likely to increase as the war continues.
EU officials call on Brussels to take the lead in providing assistance to Ukraine, similar to the Marshall Plan, following the cessation of hostilities in Ukraine’s EU accession efforts.
There are various ideas on how to fund these efforts, including by confiscating frozen Russian assets, forcing Russia to pay in a peaceful settlement, or sending money from international donors.
In early May, European Commission President Ursula von der Leyen proposed starting work on an ambitious Ukraine reconstruction package that would pave the way for Ukraine’s future in the European Union.