A major global financial effort will be required to rebuild Ukraine once the war is over. The EU is already contributing substantially to boost the country’s ongoing resilience, but more support will be needed in the medium to long-term: to re-establish the foundations of a free and prosperous country, anchored in European values and well integrated into the European and global economy and to support it on its European path.
Since the start of Russia’s war of aggression, the EU and its Member States and the European financial institutions, in a Team Europe approach, are making available over €67.7 billion in financial, humanitarian, emergency, budget and military support
- €40.6 billion to support its overall economic, social and financial resilience. This includes an unprecedented financial support package of up to €18 billion for 2023
- around €27 billion in military assistance has also been made available under the European Peace Facility and by Member States directly
While Russia’s war of aggression continues, the overall needs for the reconstruction of Ukraine are not yet known. Nevertheless, it is important to design the main building blocks of this international effort already now.
