European Commission President Ursula von der Leyen participated at the annual Ukraine Recovery Conference and highlighted in her opening speech that "the rationale of this conference has always been to look beyond Ukraine's immediate needs and chart a credible path towards its economic renaissance".
The Ukraine Recovery Conference is an annual high-level political event bringing together heads of state and government, ministers and representatives of international organisations and financial institutions, as well as businesses and civil society organisations to discuss the short-term recovery and long-term reconstruction of Ukraine. The first rendition took place two years ago in Lugano, where the 'Lugano principles' established a whole-of-society approach to rebuilding Ukraine. In her speech at last year's conference in London, President von der Leyen then announced a dedicated Ukraine Facility.
Since the war began, the EU and its Member States provided almost €100 billion to support Ukraine. The Ukraine Facility, now active since 1 March 2024, is a "paradigm shift", the President emphasised. Equipped with up to €50 billion between 2024-2027, it will provide Ukraine with stable and predictable financial support during this period. To that end, it includes a solid plan for reforms and investments that charts the way forward.
At today's conference, the President announced the signature of first agreements worth €1.4 billion under the Ukraine Facility's Investment Framework. An additional €1.9 billion in pre-financing under the Facility is expected to be disbursed later in June. "This forms the basis of making Ukraine attractive for business and investors. And it is also bringing Ukraine closer to our European Union," President von der Leyen declared, finishing with the statement that after all, "Ukraine is Europe, and our Union is your home."
