The European Union will mobilize €2.3 billion for Ukraine's recovery, including the creation of a special fund to mobilize private capital, the European Commission announced.

"With agreements signed worth €2.3 billion,

our goal is to provide up to €10 billion for investments to rebuild homes, open hospitals, restore businesses, and ensure energy security," said Commission President Ursula von der Leyen, quoted by AFP.

The EU also plans to set up a €220 million "European flagship fund for Ukraine's recovery" to attract private investment.

This will be "the largest venture capital fund in the world" to support Kyiv, von der Leyen said in a speech in Rome at a conference on Ukraine's recovery.

This fund, intended to support investments in energy and transport, aims to mobilize up to €500 million by next year, according to the European Commission.

The €2.3 billion package includes €1.8 billion in loan guarantees and over €500 million in grant aid.

The EU is "the largest donor of funds to Ukraine, with nearly €165 billion in aid already provided" since Russia's invasion in February 2022, she recalled. | BGNES