The head of the EBRD, Odile Renaud-Basso, in response to criticism, called the support of Ukraine from the West “huge” in terms of the share of support from GDP, and points out that it overshadows the Marshall Plan (the US’ European reconstruction plan following the Second World War).
Brussels and Washington were the largest financial donors of non-military aid to Ukraine, providing €27.5B and €22.9B, respectively, during the interim between the Russian invasion in February 2022 and the end of last year.
“The fact that Ukraine received 50% of its budget through external support is huge“, Renaud Basso insists.
The official also rejects criticism from some supporters of Ukraine that the EU aid package (€50B through 2027) is insufficient compared to the seven-year EU budget, which amounts to €1.074T. According to her, EU leaders must balance a fine line between supporting Ukraine and financing domestic priorities.
For its part, the EBRD has increased its capital by €4B to strengthen support for Ukraine.