Spain launches EUR 200M financial instrument for Ukraine's reconstruction

Spanish Prime Minister Pedro Sanchez announced this during a joint press conference with Ukrainian President Volodymyr Zelensky in Madrid on Tuesday, according to an Ukrinform correspondent.

"Starting today, our country is introducing a new EUR 200 million financial instrument to support Ukraine's reconstruction," Sanchez said.

He noted that the instrument would be coordinated by a newly created government office for Ukraine's reconstruction.

"This office will begin operating within two months. It will help modernize and expand infrastructure affected by Russian attacks. This is a very critical moment for Ukrainian society, the energy sector, and also transport," Sanchez said.

In addition, Spain and the UN are implementing a joint project worth around EUR 2 million to restore Ukraine's war-damaged central heating system, he said.

Overall, Sanchez said, Spain will allocate EUR 817 million in support of Ukraine, with majority – EUR 615 million – to be spent on military assistance.

Photo: Video screenshot