Brussels – “We will always be at Ukraine’s side, for as long as it takes. Now more than ever, Ukraine can count on Europe. Our solidarity continues on all fronts – militarily, financially, and politically,” European Commission President Ursula von der Leyen pledged in her speech at the Ukraine Recovery Conference in Rome today (10 July).
Von der Leyen reiterated the military support for Ukraine, which also passes through the 2030 SAFE defense plan, of which EUR 800 billion will be mobilized in Europe for defense “(…) through the SAFE instrument to create a mechanism to bring this together. Ukraine has cutting-edge weapon systems and can deliver really fast and at a low cost. This is precisely what we need in the EU.” Regarding Ukraine’s production capabilities, she went on to say, “Ukraine’s defense industry is only operating at 60 percent of capacity. Now, our Member States can take their SAFE loans and procure directly from Ukraine’s defense industry. For our Member States, it is top-notch quality, fast, and cheap. For Ukraine, it is crucial revenues. But also, an opportunity to strengthen its defense industrial base.”
She also announced new donations of up to EUR 14 billion for the “growth, recovery, and reconstruction” of Ukraine until 2028 and a new European Reconstruction Fund for Ukraine, which, according to to von der Leyen, will be “the largest equity fund globally to support Reconstruction.” The fund will kick-start investments in energy, transport, critical raw materials, and dual-use industries. “We are literally taking a stake in Ukraine’s future by leveraging public money to bring large-scale private sector investments and to help rebuild the country. I am particularly pleased that we are building it together with Italy, Germany, France, Poland, and the European Investment Bank,” she added.
She concluded her speech by expressing her strong support for Ukraine’s EU membership: “Under relentless fire, Ukraine is passing reform after reform. Ukraine stands ready to proceed with the next step on the accession path. Ukraine is delivering on its reforms – now we must too. Because the accession process is based on merit. And Ukraine merits moving forward.”
English version by the Translation Service of Withub
