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Pakistan
Wednesday, April 17, 2024

EU plan to rebuild Ukraine / from free loans to use of Russian blocked assets

Pak Sahafat – The Guardian writes that according to a leaked plan to help Ukraine rebuild Ukraine, Kiev will receive a loan, grants and possibly income from the confiscated property of Russian oligarchs to compensate for the multi-trillion-dollar cost of rebuilding the war-torn country.

According to Pak Sahafat News Agency, the Guardian newspaper wrote on Tuesday: The European Commission said in a draft drafted in Brussels that the Ukrainian government would receive loans to pay for the reconstruction of its war-torn country. Grants will also be provided by EU countries to rebuild homes, schools, roads, railways, airports and bridges.

The European Union (EU) has also proposed assessing the possibility of using the confiscated assets of Russians and Belarusians under sanctions. Earlier this month, Council of Europe President Charles Michel made a similar proposal.

Lawmakers in Britain and the United States have also proposed a plan to seize Russian property to help rebuild Ukraine and address the plight of refugees.

According to a leaked EU report, Brussels officials have also asked the EU to apply for a loan as a blockchain of international capital markets to finance loans to Kiev.

If the offer is agreed, it will be the second time in the union’s history that it has applied for a loan as a group instead of individually. Earlier, the European Union (EU) funded a € 750 billion (635 billion) improvement project from Covid-19 in 2020.

Read more:

The US House of Representatives has approved $ 40 billion in aid to Ukraine

The EU proposal to help Ukraine rebuild, which the Guardian has seen, is expected to be published tomorrow, Wednesday.

The plan also states that the financial needs for the reconstruction of Ukraine are expected to be very basic and that the reconstruction process will take more than a decade. The plan also estimates that damage to physical infrastructure alone could require more than 100 billion euros.

To pay the bill, the Commission proposes a combination of grants and cheap loans, in which EU and non-EU countries can participate through the EU Reconstruction Program.

US President Joe Biden last month proposed a $ 33 billion aid program to Ukraine that includes more than $ 20 billion in military funding.

The European Union (EU) has provided € 4.1 billion in emergency loans and humanitarian aid since the start of the Russian offensive, and has agreed to provide € 1.5 billion in arms and other non-lethal military aid. . This is in addition to the assistance provided by each of the member countries of the union.

According to the leaked document, the EU reconstruction project is being carried out jointly by Brussels and Kiev. Although the plan does not explicitly mention Ukraine’s hopes of joining the EU, it aims to bring the country closer to EU standards, including in the areas of rule of law, anti-corruption and energy.

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