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The European Union is considering setting up a solidarity fund for Ukraine to help provide basic services in the country and meet the immediate needs of its citizens, European Council President Charles Michel said on Friday.
“The fund will provide liquidity for continued support for the authorities and in the longer term will serve as the backbone for rebuilding a free and democratic Ukraine once hostilities cease.“, Said Michel in a post on Twitter.
Partners can contribute to the fund through an international donor conference, Michel said.
An EU official said the topic would be discussed at a summit of EU leaders next week, adding that the need for Ukraine to have access to international financial support to finance imports of basic necessities and military equipment was discussed. .
The Russian occupation has cut Ukraine off from international financial markets, and the fund could provide the liquidity needed to keep government services afloat.
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