The President of the European Council Charles Michel had a new communication with the President of Ukraine Volodymyr Zelensky.
“I shared with President Zelensky how we are collectively strengthening our support for Ukraine. We discussed specific elements in the ongoing negotiations between Ukraine and Russia,” Charles Michel said in a Twitter post.
He added that there was support for the “creation of a Solidarity Fund for Ukraine to help provide basic services and meet the immediate needs of the people”. According to the President of the European Council, “The Fund will provide liquidity for continued support to the authorities and in the long run will serve as the backbone for rebuilding a free and democratic Ukraine as soon as hostilities cease. Partners could contribute to the Fund through an international sponsorship conference “.
According to a European official, the two presidents discussed the fact that Ukraine needs access to international liquidity to finance the import of basic necessities and military equipment, as in the current circumstances Ukraine is not able to issue bonds in the international financial market to meet its needs while withdrawing private investment.
Therefore, Michel and Zelensky explored the creation of a Ukrainian Solidarity Fund that would help the country maintain its effort in the war.
The Solidarity Fund of Ukraine will provide, explained the same official, in the short term, liquidity for the continuation of the operation of government authorities, ongoing defense efforts and the provision of basic services to meet the immediate needs of citizens (housing, food, health care) to deal with a state of war.
In the long run, huge investments are needed to rebuild the economy (infrastructure, networks, businesses), with a view to economic consolidation in the West. “The EU will continue to stand by you in the face of Kremlin aggression,” Charles Michel said in a statement. Finally, the President of the European Council informed Volodymyr Zelensky about the communication he had during the week with Vladimir Putin.
SOURCE: AMPE
Source: Capital
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