Denys Shmyhal and EU Commissioners discuss introducing a reparations loan mechanism for Ukraine

Ukraine’s Minister of Defence, Denys Shmyhal, held talks with EU Commissioner for Defence and Space Andrius Kubilius and EU Commissioner for Enlargement Marta Kos. 

The meeting was also attended by Taras Kachka, Deputy Prime Minister for European and Euro-Atlantic Integration of Ukraine.

The key focus of the meeting was the funding of Ukraine’s defence sector. The parties discussed joint efforts to engage Ukraine in the SAFE initiative, aimed at supporting the development of the European defence industry.

Special attention was given to the use of frozen russian assets to support Ukraine. In particular, the parties discussed the prospect of a reparations loan for Ukraine, currently being developed by the EU as a continuation of its existing macro-financial assistance (ERA Loans). 

“The aggressor’s assets should be directed towards strengthening Ukraine’s defence capabilities and reinforcing the security of our allies,” emphasised Ukraine’s Minister of Defence, Denys Shmyhal.

The meeting also included an in-depth discussion of the European ‘Drone Wall’ initiative. Work is currently underway on a roadmap for this large-scale project to establish a defence ecosystem, in which Ukraine will play an important role.”

Denys Shmyhal stated that Ukraine, leveraging its unique combat experience and advanced technological solutions, is ready to coordinate the implementation of the ‘Drone Wall’ initiative with its partners and integrate its proven innovations.

“European integration is the key guarantee of Ukraine’s security,” concluded the Minister of Defence of Ukraine. 

He also thanked partners for their continued support of Ukraine’s European path, constructive dialogue, and partnership.