Lithuania Contributes €1 Million to CoE Development Bank Fund to Support Ukraine's Recovery

The Lithuanian government has contributed 1 million euros to the Solidarity Trust Fund for Ukraine at the Council of Europe Development Bank (CEB). The fund is aimed at improving the living conditions of Ukrainians and supporting recovery efforts. This is said in the Bank's statement.

Lithuanian Finance Minister Gintare Skaiste said that the contribution to the Ukrainian CEB fund "will help restore and strengthen the country's social infrastructure".

"Lithuania strongly supports Ukraine. Ukraine's strength is in its people and their determination to fight 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 people," she explained.

Lithuania has joined various international initiatives in support of Ukraine through the instruments of the European Union and international financial institutions and is one of the leading countries in providing assistance to Ukraine. To date, Lithuania's humanitarian, financial and military assistance amounts to 1.9% of its GDP.

The Solidarity Fund for Ukraine, established to address the social consequences of Russia's full-scale war against Ukraine and support recovery efforts, has already received €1 million in initial funding from Ireland, with additional contributions from the Czech Republic and Germany in 2023.

Ukraine's accession to the Council of Europe's Development Bank comes less than a year after it formally applied for EU membership in June 2022.

At the end of last year, the governments of the Council of Europe's shareholder countries agreed to increase its capital to help members cope with the crisis created by the war in Ukraine.

As The Gaze previously reported, in November, Lithuania handed over a fresh military aid package to Ukraine, consisting of one million pieces of ammunition and winter gear.

In particular, the package includes items necessary for winter military campaigns, including generators, field tents and dry rations.

Previously, the Armed Forces of Ukraine received two launch stations for the NASAMS medium-range air defence system from Lithuania. These NASAMS launchers are to be integrated into units of the Ukrainian Armed Forces, expanding the operational capabilities of the NASAMS systems provided by Norway and the United States.