EU and Allies Pledge Billions at Ukraine Recovery Conference

The European Union and its allies convened for the Ukraine Recovery Conference (URC2026) in Gdansk, Poland, on June 25-26, 2026, to mobilize funding for postwar reconstruction and defense. Ursula von der Leyen, President of the European Commission, announced the first disbursement of 3.2 billion euros from a 90-billion-euro loan package and a subsequent 6-billion-euro tranche for drone production. The EU also launched the European Flagship Fund for the Reconstruction of Ukraine with an initial public package of 220 million euros to attract private investment.

Ukraine secured additional massive support through a 3.39-billion-dollar agreement with the World Bank, which includes grant financing and development loans guaranteed by the United Kingdom and Japan. The United Kingdom provided a separate 290-million-pound package focused on energy security, including a 210-million-pound nuclear fuel agreement between Urenco and Energoatom. The European Investment Bank also contributed a 470-million-euro package targeting critical infrastructure and social housing.

Prime Minister Yulia Svyrydenko led the Ukrainian delegation and announced plans to sign over 160 agreements worth more than 10 billion euros. However, the conference was marked by diplomatic friction; President Volodymyr Zelenskyy was absent after Polish President Karol Nawrocki stripped him of the Order of the White Eagle. The dispute stemmed from Ukraine's decision to name a military unit after the World War II-era Ukrainian Insurgent Army.