Nearly 900 days after the Russian invasion of Ukraine, a Ukraine recovery conference is being held in Berlin to ensure that Ukraine can continue to defend itself. At the Recovery Conference, European Commission President Ursula von der Leyen announced several new initiatives that will ensure Ukraine remains in charge of its own future and brought closer to the European Union.

At the Conference the EU:

  • signed agreements worth €1.4 billion with partner banks to attract private sector investments in Ukraine,
  • announced specific support for equity investments in Ukraine with the aim of improving financing of Ukrainian companies, especially for small and medium-sized enterprises and start-ups that can help modernize the Ukrainian economy;
  • announced at the end of June the delivery of a further €1.9 billion from the EU’s Ukraine Facility, following progress on the Ukraine Plan, a set of anti-corruption reforms and investment strategies,
  • announced the transfer by July of around 1.5 billion euros of windfall profits generated from immobilized Russian assets for investments in Ukraine’s defense and reconstruction.

In addition, almost 500 million euros have been raised through the Energy Support Fund for urgent repairs to the Ukrainian energy sector. The EU Civil Protection Mechanism has helped mobilize over 15,000 solar panels to support Ukraine’s energy sector and now plans to supply another 1,000 power generators through the rescEU strategic reserves. In addition, the EU has also agreed to exempt Ukraine from paying its financial obligations related to its participation in fourteen EU programmes.

Since the start of Russian aggression, the EU’s financial, humanitarian, emergency, budgetary and military support to Ukraine has amounted to almost 100 billion euros.

For more information

EU solidarity with Ukraine

Recovery and reconstruction of Ukraine

Opening speech by President Von der Leyen at the Ukraine Recovery Conference

Press release: EU signs €1.4 billion in new guarantee and grant agreements to support Ukraine’s recovery and attract private sector investment