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EU mobilizes €1 billion for Solidarity Lanes

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Published: November 14th, 2022,
Last updated: December 21st, 2022

The European Commission will fast-track €250 million in financial assistance for the development of Solidarity Lanes for Ukraine. „For the short-term, we will support quick improvements, in particular with mobile equipment, to reduce waiting times and improve movement through the border crossing points and their access routes,“ the Commission said in a joint statement with EU countries neighboring Ukraine, as well as the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD) and the World Bank Group. In total, the signatories are mobilizing €1 billion for the Solidarity Lanes „to improve global food security and provide a lifeline to the Ukrainian economy.“

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Geopolitics Finance European policy Financial policy