The EU has proposed a new mechanism for the reconstruction of Ukraine.

The European Commission has proposed a new mechanism called Rebuild Ukraine as the main tool to support Ukraine’s post-war reconstruction, announced the EU press service. The Ukrainian authorities should lead reconstruction efforts in close cooperation with the European Union and other key partners, such as their G7 and G20 partners and other third countries, international financial institutions, and international organizations. The European Commission plans to lead the Reconstruction Platform of Ukraine, which will act as a comprehensive strategic management body responsible for approving the recovery plan drawn up and implemented by Ukraine with the support of administrative capacity and technical assistance from the EU. The platform will coordinate funding sources (grants and loans) and their allocation to optimize their use and monitor the plan’s implementation.