Dietmar Rabich
The publication claims that criticism of the EU's "haphazard and unpredictable financial support to Kiev" led to the European Commission's new strategy for giving Ukraine financial aid. The strategy will provide the Ukrainian side the confidence in the money it needs, according to the FT. Supporters of the proposal also hope that it will persuade the United States and the United Kingdom to make comparable long-term commitments.
Every EU member state must consent to the plan. The article points out that it will be challenging to accomplish because Hungary has already halted earlier rounds of negotiations on financing Ukraine. If a new funding plan is approved, the funds might be used to assist Ukraine in rebuilding its infrastructure, which the World Bank estimates sustained $411 billion in damage between February 24, 2022, and February 24, 2023.
"Ukraine has significant needs and requires additional assistance. There is a strong desire to help the country, but it will be a difficult battle," according to one source acquainted with the plan's deliberations.
source: ft.com
Every EU member state must consent to the plan. The article points out that it will be challenging to accomplish because Hungary has already halted earlier rounds of negotiations on financing Ukraine. If a new funding plan is approved, the funds might be used to assist Ukraine in rebuilding its infrastructure, which the World Bank estimates sustained $411 billion in damage between February 24, 2022, and February 24, 2023.
"Ukraine has significant needs and requires additional assistance. There is a strong desire to help the country, but it will be a difficult battle," according to one source acquainted with the plan's deliberations.
source: ft.com