Lithuania donates €1 mn to Ukraine Solidarity Fund for reconstruction efforts

“Lithuania stands firm in support of Ukraine. Ukraine’s strength lies in its people and their determination to fight against the aggressor,” Lithuania’s Minister of Finance said.

byIryna Voichuk

04/12/2023

2 minute read

Mykolaiv Oblast administration building destroyed by Russian missile attack on 29 March 2022. Credit: Jason Beaubien

Lithuania donates €1 mn to Ukraine Solidarity Fund for reconstruction efforts

Lithuania has contributed €1 million to the Ukraine Solidarity Fund, a trust fund managed by the Council of Europe Development Bank (CEB), to aid in the reconstruction and improvement of living conditions in Ukraine, CEB announced on 4 December.

Gintarė Skaistė, Lithuania’s Minister of Finance, emphasized the multifaceted nature of the support needed for Ukraine, stating, “Lithuania stands firm in support of Ukraine. Ukraine’s strength lies in its people and their determination to fight against 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 persons.”

CEB Governor Carlo Monticelli and Lithuania’s Minister of Finance Gintarė Skaistė. Credit: CEB

Lithuania’s financial assistance represents a significant proportion of its GDP, with humanitarian, financial, and military aid amounting to 1.9% of its GDP since Russia started full-scale invasion. This contribution aligns with Lithuania’s active participation in various international initiatives through European Union instruments and international financial institutions, highlighting its role as one of the leading countries in providing support to Ukraine.

Since 2015, Lithuania has been actively financing social investments through the CEB’s trust funds to bolster social cohesion across Europe. The Ukraine Solidarity Fund, launched by the CEB in 2022, already includes €1 million in seed financing from Ireland, along with additional contributions from the Czech Republic ($31,000) and Germany ($2.2 million) in 2023.

Carlo Monticelli, Governor of the CEB, expressed gratitude for Lithuania’s contribution and the growing support for the fund, saying, “We look forward to expanding our cooperation with the Ukrainian authorities to address the country’s pressing social and reconstruction needs.”

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