Lithuania contributed 1 million euros ($1.08 million) to the Ukraine Solidarity Fund, a fund managed by the Council of Europe Development Bank (CEB) to help finance Ukraine's reconstruction, as well as improve the current living conditions of Ukrainians, the CEB announced on Dec. 4.
The fund was created in 2022 with 1 million euros ($1.08 million) in seed money from Ireland, and it has since received 2 million euros ($2.2 million) from Germany and 700,000 Czech Koruna ($31,000) from the Czech Republic.
“Lithuania stands firm in support of Ukraine," said Lithuanian Finance Minister Gintare Skaiste.
"Ukraine’s strength lies in its people and their determination to fight against the aggressor, so it is important to provide not only military and budgetary support, but also to address the social consequences of the war to ensure the basic needs of internally displaced persons. This is why we have decided to contribute to the Ukraine Solidarity fund that will help to reconstruct and strengthen the country's social infrastructure."
A combination of individual countries and institutions like the EU and the European Investment Bank (EIB) have pledged billions of dollars for Ukraine's reconstruction.
U.S. officials have also suggested that Russian money currently frozen by Ukraine's allies in the West will not be returned until Moscow pays for Ukraine's reconstruction.
Estimates on the cost of Ukraine's reconstruction have varied. A report by the World Bank in March 2023 put the figure at $411 billion, but others have put the number at higher than $1 trillion.
Alexander Query
