SAWT BEIRUT INTERNATIONAL

| 1 October 2022, Saturday |

EU proposes to create solidarity fund for Ukraine’s basic needs

According to European Council President Charles Michel, the European Union is considering creating a solidarity fund for Ukraine to help provide basic services and fulfill individuals’ immediate needs.

“The Fund would provide liquidity for sustained support to the authorities and, in the long run, serve as the backbone for the restoration of a free and democratic Ukraine once hostilities have ended,” Michel stated in a tweet.

According to Michel, partners could donate to the fund through an international donors conference.

The matter will be reviewed in a summit of EU leaders next week, according to an EU official, who also stated that the presidents highlighted the importance of Ukraine maintaining access to international financial support to fund imports of basic requirements and military equipment.

The fund could provide the liquidity needed to keep government services running, continue defense efforts, and provide basic services, according to the official. The Russian invasion has cut Ukraine off from international financial markets, and the fund could provide the liquidity needed to keep government services running, continue defense efforts, and provide basic services, according to the official.

    Source:
  • Reuters