On July 14, according to LRT.lt, the website of Lithuanian public broadcaster LRT, fifteen European Union member states reached an agreement to create a special fund through the European Investment Bank (EIB) aimed at supporting Ukraine's reconstruction in the near term. The EU4U Fund will focus on rapidly addressing Ukraine's critical infrastructure needs and sustaining its economy. The participating countries pledged a total of more than €400 million for this initiative, with Lithuania committing €10 million, as announced by its finance ministry.

The establishment of the EU4U Fund is a positive step towards providing essential financial assistance to Ukraine during these challenging times. The fund will facilitate the EIB in financing urgent infrastructure projects and bolstering the country's economic resilience, as stated in the official announcement. Lithuanian Finance Minister Gintare Skaiste expressed her support for the fund and confirmed Lithuania's €10 million contribution.
EIB President Werner Hoyer emphasized the significance of these pledges, affirming that they will significantly aid Ukraine's economy and its steadfast resistance against the Russian invasion.

Ukrainian Prime Minister Denys Shmyhal stressed the urgent need for international support to finance a swift recovery in Ukraine. He highlighted energy, housing, critical social infrastructure, and the private sector as key priorities for the country's reconstruction, as reported by LRT.lt.

This collaborative effort by EU member states through the EU4U Fund aims to provide crucial assistance to Ukraine in addressing its immediate infrastructure requirements and bolstering its economic stability during these challenging times.