Ukraine needs from 3 to 5 bln euros per month to cover current expenses - European Commission president

BRUSSELS. Oct 25 (Interfax) - Donors should allot from 3 to 5 billion euros per month to cover the current expenses of Ukraine, which is beyond the capacity of the European Union, European Commission President Ursula von der Leyen said.

According to international financial institutions and Ukraine, the latter needs from 3 to 5 billion euros per month to cover current expenses, von der Leyen said at the Berlin conference on the recovery of Ukraine on Tuesday. There is need for solid support from the European Union, its friends in the United States and, clearly, international financial institutions, she said.

In her words, the European Union should provide a fair share of this financing.

Von der Leyen said she was working with the EU member states so that the EU could support Ukraine with up to 1.5 billion euros every month, which totals roughly 18 billion euros in 2022.

These funds are spent on the salaries of servicemen, law enforcement offices, teachers and doctors, pensions, and other necessary current expenses, von der Leyen said.

The recovery of Ukraine will require huge funding, she said.

"The World Bank puts the cost of the damage at 350 billion euros. This is for sure more than one country or one union can provide alone," von der Leyen said.

The participation of the G7 countries, the European Union, its economically strong partners, such as the USA, Canada, Japan, Great Britain, South Korea, Australia, New Zealand and others, will be required to cover such costs, she said

"And of course, we need expertise of our partners from the European Investment Bank, the EBRD to the World Bank and the IMF," von der Leyen said.