The EU officially announced on Wednesday that it has begun soliciting companies to invest in Ukraine’s recovery and reconstruction efforts. On the same day, the EU and the Ukrainian government co-hosted an EU-Ukraine Investment Conference in Warsaw, Poland.
All European companies interested in joint ventures or consortiums must submit their proposals by March 1 of next year.
The EU will review the proposals and contract the most suitable companies for a €50 billion ($54 billion) funding project for Ukraine.
The investment will be used for energy, raw and construction materials, processing and manufacturing, information systems, digital and transportation infrastructures, and export logistics.
At the Ukraine Recovery Conference held in Lugano, Switzerland, in July 2022, the Ukrainian government estimated the total cost of post-war reconstruction to be $750 billion.
Olivér Várhelyi, the European Commissioner for Neighbourhood and Enlargement, emphasized that Ukraine’s reconstruction requires both public funding and private sector partnerships. He stated, “By bringing these efforts together, we can maximize investment, support the country’s recovery and gradual integration into the EU Single Market.”
Ukrainian First Deputy Prime Minister Yuliia Svyrydenko remarked, “The launch of the EU’s Call for Expression of Interest is an important step toward attracting investments for Ukraine’s reconstruction. We are dedicated to fostering a favorable environment for foreign investment. EU-Ukraine Investment Conference allows us to remind international businesses that war is not an embargo on investment; we must unite our efforts around Ukraine’s recovery now, without waiting for the war to end.”
In related news, Fox News reported on Wednesday that Trump will likely appoint a peace envoy for Ukraine “very soon” to lead negotiations with Russia, raising hopes for a potential ceasefire.
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