Ukraine to prepare mid-term reconstruction plan - European Commission vice-president

MOSCOW. June 21 (Interfax) - Ukraine will prepare a mid-term reconstruction plan in cooperation with the European Union and its donors, European Commission Vice-President Valdis Dombrovskis said at the Ukraine Recovery Conference in London, commenting on the initiative announced the previous day to allocate 50 billion euros in financial reserves to Ukraine for 2024-2027.

"This plan will bring together necessary investments and reforms not only to help with reconstruction, but indeed also help with the green and digital transformation of the economy and to help with the reforms necessary for Ukraine towards joining EU," Ukrainian media quoted Dombrovskis as saying in a statement.

The new EU package also aims to mobilize the private sector to support Ukraine's recovery in addition to mobilizing donor assistance at the levels of states and international financial organizations, he said.

It is important that the European Bank for Reconstruction and Development is currently taking the initiative to launch a pilot military insurance scheme, he said.

"We are going to sign an agreement to work on this pilot scheme later today to cover the estimated finance needs," Dombrovskis said.

The EU is also working on a pilot project for export credit guarantee schemes to Ukraine, he said.

Other initiatives include the European Commission's 100 million euro guarantee for a European Investment Bank project to restore infrastructure and provide business support, as well as the signing of two other agreements to support small- and medium-size businesses in Ukraine., he said