EU Commission lays out 5 pillars for Ukraine’s recovery
Ursula von der Leyen (Photo: Getty Images)
The EU has reported significant progress in preparing a major economic document that will outline the parameters for Ukraine’s post-war reconstruction and development with support from Europe and the US, according to Ukrinform.
What the European Commission said about the Prosperity Plan
European Commission President Ursula von der Leyen stated that work on the Prosperity Plan for Ukraine is nearly complete during a press conference following an informal meeting of EU leaders on transatlantic relations held in Brussels.
According to her, the document is already in its final stages of preparation and reflects a shared vision for the country’s future after the war ends.
“On security guarantees, the Paris meeting brought good progress. As you know we are now waiting for the Russian response,” von der Leyen said.
Ukraine-EU-US agreement nears completion
She also noted that the agreement between Ukraine and the US on a unified, joint Prosperity Plan is nearing finalization. Implementation of the initiative will be possible once a ceasefire is established or peace is achieved.
“It looks at how we can boost the prosperity of Ukraine at the moment we achieve a peaceful ceasefire,” the European Commission president suggested.
Five key areas of future reconstruction
According to von der Leyen, the Prosperity Plan is the only document grounded in the shared vision of Ukraine, the US, and the European Union for Ukraine’s post-war future.
The document is based on a World Bank needs assessment and covers five key areas.
First, it aims to increase productivity through business-friendly reforms and strengthening market competition.
Second, it focuses on accelerating Ukraine's integration into the EU single market through reforms in key economic sectors.
Third, it envisions a significant increase in investment. An investment framework for Ukraine is already in place under the EU-Ukraine Fund.
Fourth, it seeks to enhance donor coordination and attract private capital through the Donor Platform for Ukraine, which brings together G7 countries, the European Commission, and other partners.
Fifth, it involves fundamental reforms, including strengthening the rule of law, intensifying anti-corruption efforts, and modernizing public administration.
“This agreement on the Prosperity Framework is a very important milestone. As I said, we are almost done. We are actively preparing Ukraine's future as a modern, sovereign and free country. This is a strong signal to our brave neighbour and partner in difficult times,” von der Leyen emphasized.
European Commission President Ursula von der Leyen expressed support for Iranian protesters and announced the preparation of new restrictive measures against Iran in response to internal repression and its involvement in the war against Ukraine.
Von der Leyen also informed Members of the European Parliament about the EU’s development of its own security strategy, aimed at strengthening the Union’s defense capabilities and expanding its role in global security and defense matters.
