Ukraine is receiving unprecedented support from the European Union — ranging from financial guarantees through the Ukraine Facility to programs for small businesses and innovation. Special attention is being paid to the development of healthcare and support for Ukrainian women entrepreneurs.
Ms. Anne Calteux, Head of the European Commission Representation in Luxembourg, discusses the specific support mechanisms, investments, and the role of women in the country’s recovery.
- What is the key role of the European Commission in the current process of Ukraine’s recovery and European integration?
The European Commission’s role is crucial. Since day one of the full-scale invasion of Ukraine by Russia, we have shown unfaltering solidarity with Ukraine and we have provided substantial financial support to boost the country’s resilience and recovery.
To help Ukraine in its recovery and reconstruction efforts, the EU has launched a new support mechanism for the years 2024 to 2027: the Ukraine Facility. So far, a total amount of more than €24.5 billion of direct assistance to Ukraine has been provided. Equipped with €9.5 billion in guarantees and grants for 2024-2027, the Ukraine Investment Framework aims to mobilise up to €40 billion in public and private investment for Ukraine’s recovery and reconstruction, working closely together with EU Member States, the Government of Ukraine, and European and international financial institutions. With the new packages announced, total EU commitments now reach €6.9 billion, expecting to leverage over €21 billion in investments. This represents 60% of the Framework’s overall available funding for 2024-2027.
Furthermore, at the 2025 Ukraine Recovery Conference in Rome, European Commission President Ursula von der Leyen announced the signature of EUR 2.3 billion in EU guarantee and grant agreements, mobilized under the Ukraine Investment Framework.
Very recently, the European Commission proposed two new financing solutions to strengthen Ukraine’s financial resilience in 2026–2027: EU borrowing backed by the EU budget and a Reparations Loan enabling the Commission to borrow from EU financial institutions holding immobilised Russian Central Bank assets. Presented through five legal proposals, the package responds to the European Council’s call to secure Ukraine’s future budgetary and defence needs. As Russia intensifies its attacks on Ukraine and escalates hybrid threats against EU states, the proposals aim to provide predictable support while protecting Member States and financial institutions from potential Russian retaliation.
As for Ukraine’s integration, the EU is already working to gradually integrate the country into its single market and allow Ukrainians to benefit from some of the advantages that European citizens enjoy. On 2 February 2023, President von der Leyen and Ukrainian Prime Minister Denys Shmyhal signed the agreement enabling Ukraine to participate in the EU’s Single Market Programme. This participation strengthens support for Ukrainian small and medium-sized enterprises (SMEs), improves their access to EU markets, and promotes a more favourable business environment, sustainable growth, and internationalisation. Through the programme, Ukraine has also joined the Enterprise Europe Network (EEN) and gained access to Erasmus for Young Entrepreneurs and the European Cluster Collaboration Platform (ECCP).
When we speak about integration, we also have to speak about enlargement. We want Ukraine to be part of the EU. For that to become a reality, certain conditions have to be met. The Commission follows closely the progress made by Ukraine since it became a candidate country. In the annual Enlargement package presented on 4 November, the Commission concluded that Ukraine remains strongly committed to its EU accession path and has progressed well on a certain number of clusters. The Ukrainian government has signalled its objective to close accession negotiations by the end of 2028 and we will accompany it in achieving this objective without making any compromise as regards the rule of law and European fundamental rights.
As you can see there is no fatigue in the European Commission when it comes to supporting Ukraine and showing our solidarity.
- What will be the priority areas of cooperation between the EU and Ukraine in 2026 in the context of economic recovery?
The Ukraine Facility runs from 2024 to 2027 – so 2026 falls in the heart of this period when the bulk of disbursements and investments are expected to roll out. According to the EU’s 2025 annual report, the Facility is already showing fast results and boosting the accession path. The annual report concludes that the support provided through the Ukraine Facility is not only keeping Ukraine’s economy running – it is also supporting key reforms that bring the country closer to EU membership, underpinning Europe’s commitment to stand with Ukraine for as long as it can.
With ongoing destruction and urgent needs across multiple sectors (housing, energy, transport, public services), 2026 is likely to see strong mobilisation of EU funds, investments and reforms to stabilise and rebuild Ukraine’s economy and society.
And let’s not forget the work of the European Investment Bank, located in Luxembourg by the way: as of July 2025, they invested €740 million in shoring up Ukraine’s social infrastructure and businesses. They have secured guarantees for more than €2 billion through the EU for Ukraine Fund and the Ukraine Facility. This financing will be used for recovery and reconstruction starting in 2025.
- Considering your experience at the Luxembourg Ministry of Health, which EU initiatives or programmes do you consider most effective for the development of the health sector in Ukraine?
A well-functioning health system is key, especially in times of crisis when pre-existing weak spots often evolve into structural problems. For instance, during the Covid crisis, the Luxembourg authorities had to face the negative consequences of the strong dependence from health professionals coming from neighbouring countries.
It was only natural that in July 2022, only a few months after the start of the full-scale invasion by Russia, the European Commission signed an agreement associating Ukraine with the EU4Health programme. This agreement opened access for Ukraine to EU funding in the area of health and has enabled the Ukrainian health system to respond to immediate needs and contribute to long-term recovery.
Additionally, in June 2023 the Commission and Ukraine’s Health Ministry signed an agreement for cooperation on health, covering mental health and psychosocial support, healthcare for refugees, repatriation and incorporation of patients into Ukraine’s healthcare system, and continued funding through EU4Health, among other things.
Furthermore, the EU-funded project ‘Support to Ukraine for Developing a Modern Public Health System’ has played a pivotal role in modernising Ukraine’s public health system and aligning it with EU standards. The initiative has fostered sustainable improvements in disease prevention, blood safety, and digitalisation, leaving a lasting impact on the country’s healthcare infrastructure.
That having been said, initiatives like “Ukraine is calling” put in place by Lukraine asbl, including the delivery of ambulances and medicinal products, are extremely helpful in addition to the efforts at EU level to strengthen the resilience of the Ukrainian health system.
- Our next edition is dedicated to innovations. What specific EU mechanisms or funds exist to support the implementation of innovative technologies in Ukrainian businesses or the social sector during the war?
Innovation is one of the top priorities under the current European Commission mandate and that’s why it is also a key component of our investments going to Ukraine: because we know that Ukrainians are very innovative and that there is a lot of potential for mutually beneficial synergies. The Ukraine Investment Framework, which is part of the Ukraine Facility mentioned above, was launched in 2024 to attract public and private investments for the recovery and reconstruction of Ukraine. On the private sector side, the Ukraine Investment Framework unlocks private capital at scale and mobilises Foreign Direct Investment in areas such as green and renewable energy, digitalisation, manufacturing, agri-business and value chain industries. It backs private investment in strategic industries, critical raw materials and dual-use technologies. It also supports access to finance for war-affected and most vulnerable groups, leaving no one behind. It finances war-veterans, displaced persons, women and youth, mobilising financing for businesses in front-line territories, supporting de-mining and micro-businesses.
As part of ongoing efforts to reinforce Ukraine’s innovation capacity, the European Innovation Council (EIC) recently announced to make €20 million of funding available for Ukrainian deep-tech start-ups and SMEs. The initiative aims to accelerate the development of transformative technologies and integrate Ukrainian innovators more deeply into European markets.
Moreover, the Council of the EU adopted earlier this year the so-called SAFE instrument (Security Action for Europe), a new financial instrument that enables EU Member States to finance large defence procurements which are also open for Ukraine and can be used to equip Ukraine with innovative military equipment.
- How can Luxembourg, as an EU financial and innovation hub, strengthen support for Ukrainian women entrepreneurs and help scale their businesses in the European market?
Luxembourg’s labour market is very inclusive and, from what I can see, authorities have quickly understood the dynamic which Ukrainian women entrepreneurs can bring to the Grand Duchy. Now, it’s important that those women are aware of the many opportunities that the Grand Duchy offers to them.
Luxembourg’s national innovation agency and ecosystem actors actively support Ukrainian startups and entrepreneurs: Luxinnovation participates in EU consortia to help integrate Ukrainian innovators with EU markets and skills networks; LHoFT runs fintech/acceleration programmes, including women-focused cohorts such as Women in Finance & Technology, that offer mentorship, investor access and pilot opportunities in Luxembourg’s finance ecosystem. These programmes build business readiness, compliance and investor links that facilitate EU market entry.
I believe that the national labour market can gain a lot from the experience, agility and innovative edge brought by Ukrainian female entrepreneurs. They can actually help to close the gender gap and to address the talent attraction issue faced in many sectors in Luxembourg.
- In your opinion, what are the main challenges Ukrainian entrepreneurs face when attracting European funding, and how can they be overcome?
Many SMEs in Ukraine are under severe financial pressure due to high debt levels, rising operational costs, and an increasingly acute liquidity crunch. The uncertainty caused by the ongoing war has made investors more risk-averse, while banks are directing their limited resources toward safer, well-established clients rather than smaller firms. As a result, SMEs often cannot meet traditional banking requirements, such as demonstrating sufficient creditworthiness or providing adequate collateral, which severely restricts their access to external finance. According to an analysis by the UN International Organization for Migration (IOM) mission in Ukraine, the lack of available financial resources is among the top three challenges faced by micro, small, and medium-sized enterprises (MSMEs).
External financing and better information about available resources will play a critical role in helping Ukrainian SMEs overcome current financial pressures by providing capital, expertise, and market opportunities that are not readily available domestically. To maximise this impact, it is essential to increase the dissemination of information on funding possibilities, such as the Ukraine Investment Framework.
When it comes to access to finance, a valuable contact point is Enterprise Europe Network (EEN) hosted by Chambre de Commerce. There is even an “EEN Ukraine”: it’s aim is to help Ukrainian SMEs to innovate and partner with EU SMEs. As part of this, EEN Ukraine has recently mapped Ukrainian clients and their innovation needs to achieve the twin transition and improve their competitiveness, as well as raised awareness about doing business and investing in Ukraine.
Another interesting initiative is the Focus Group Ukraine. This platform brings together relevant stakeholders and business support networks to discuss the latest EU, national, Ukrainian and international initiatives and programmes to support EU-Ukraine business cooperation and collect their feedback. The forum promotes closer trade cooperation between Ukraine and the EU by raising awareness of the opportunities of doing business with Ukraine and vice versa.
Last but not least, the Erasmus for Young Entrepreneurs programme (EYE) is an exchange scheme that helps European entrepreneurs start and grow their business. The programme is ready to support the participation of more Ukrainian entrepreneurs.
- Ms. Calteux, you are a successful woman in a high-level EU leadership position. What message or advice would you give to Ukrainian women who are actively developing businesses and rebuilding the country?
I am not an entrepreneur, so I feel quite humbled by this question. But one thing is for sure: Ukrainian women have shown remarkable strength and resilience, especially in these challenging years and we can all learn from that. To all those women who are leading businesses and helping rebuild their country I would like to say: your work is not only shaping Ukraine’s future – it is shaping Europe’s future as well. I would like to give three messages to Ukrainian women:
First, believe in the value you bring. Leadership is not about fitting into a predefined model; it is about bringing your perspective, your creativity and your integrity to the table. Do not underestimate the power of your voice or the impact of your decisions. You are truly inspiring.
Second, invest in solidarity. No one succeeds alone. Build networks, support one another, share experiences and ask for help when needed. Strong communities of women lift entire societies.
And finally, keep your ambition. Whether you are growing a business, driving innovation or strengthening your community, you are contributing to the reconstruction and resilience of Ukraine. Europe stands with you, admires your courage, and believes in your potential.
Your leadership today is a foundation for tomorrow’s opportunities – for Ukraine, and for all of us. Thank you.
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Photo: from the Business Woman archieves