VdL Proposes EUR50bn Of EU Funds For Ukraine Over Next 4 Years

European Commission President Ursula von der Leyenhas delivered aspeech at the Ukraine Recovery Conference in London, presenting a series of reforms and proposals regarding EU fiscal support for Ukraine, both from member state gov'ts and the private sector.

• Says that she 'has no doubt that Ukraine will be part of our Union', and that the EU 'has a special responsibility for Ukraine long-term.'
• VdL says that the reforms on Ukraine 'send a powerful message to private investors', and that 'We need the private sector to step in on Ukraine.;
• VdL: 'We want to match Ukrainian reforms with European investments...New facility proposed by EU will provide constant support for Ukraine until 2027.'
• VdL: 'Until 2027, Ukraine's fiscal gap is about EUR60bn'. This comes in addition to EUR50bn required for a 'quick recovery'. VdL proposes EUR50bn for Ukraine's recovery from the EU.
• The scale of funding required could result in some pushback from member states to use 'own resources' from the mutiannual financial framework (the EU's long-term budget) for Ukraine. This could be from the 'frugal' EU members generally opposed to greater EU spending, or from those member states - notably Hungary - that have proved more reluctant to offer significant support to Kyiv.