Spain’s Economy Minister, Carlos Cuerpo, has proposed a temporary funding tool for large-scale, pan-European projects, calling on EU colleagues to join the initiative, citing the need for European solidarity to support Ukraine and Eastern countries.
The proposed instrument would provide grants to EU countries, particularly those in the East, and could be funded through member state contributions, joint EU debt, and the European Stability Mechanism’s rescue fund, with potential use of frozen Russian Central Bank assets.