Economy6 hours prior to now (Mar 18, 2022 03: 36PM ET)
© Reuters. European Council President Charles Michel arrives for the EU-Africa summit at the European Council constructing in Brussels, Belgium February 17, 2022. Geert Vanden Wijngaert/Pool by device of REUTERS
AMSTERDAM (Reuters) – The European Union is pondering constructing a solidarity fund for Ukraine to wait on present unique companies in the nation and meet voters’ instant needs, European Council President Charles Michel stated on Friday.
“The Fund would give liquidity for continued toughen to authorities and in the longer duration of time relief as backbone for reconstruction of a free and democratic Ukraine once hostilities quit”, Michel stated in a tweet.
Partners can also contribute to the fund by an world donors conference, Michel stated.
An EU official stated the subject would be discussed at a summit of EU leaders subsequent week, adding that the presidents had discussed the need for Ukraine to withhold win admission to to world monetary toughen to fund imports of unique requirements and navy equipment.
The Russian invasion has slice Ukraine off from world monetary markets, and the fund can also present the liquidity needed to abet authorities companies running, to proceed defence efforts and to manufacture unique companies, the official stated.
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