Luxembourg, 6 May 2025
“Check against delivery”
“All Member States are faced with three great challenges: the challenge of peace, the challenge of freedom and the challenge of prosperity, and it seems clear that they can only be met through the European dimension.”
Does this sound familiar? This quote is more than 40 years old.
Simone Veil said this in 1979, during her first speech as President of the European Parliament.
In that same speech, she described Europe as an island of freedom surrounded by regimes where force prevails. And she argued that, to safeguard peace, freedom and prosperity in Europe, we should bring in and stabilize Greece, Spain and Portugal, who had just freed themselves from dictatorships.
In the 1990s and early 2000s, we followed the same model. To stabilize our continent, we brought the newly free countries of Central and Eastern Europe into the EU – my Slovenia was part of it.
This was our way to react to the biggest geopolitical realignment on our continent since the Second World War. And, to this day, this has been one of the greatest geopolitical successes of our Union.
Today, we are again seeing the acceleration of a geopolitical re-alignment that has been going on for many years, but which is shaking the foundations of our continent. We face not just Russia, but increasingly the indifference of our oldest ally.
And also today, as we see the tide of freedom receding on the global stage, and Europe once again at risk of becoming an island, the European dimension is the only way to meet the challenges we face. Peace, Freedom and Prosperity, as in Simone Veil’s time. And, I would add, security.
Today, we once again need to stabilize our neighborhood as we have done in the 80s and again in the 2000s. But unlike in those past attempts, we are now facing adversaries who do everything they can to see us fail.
This is why I believe that the geopolitical situation we face demands bold decisions. To successfully enlarge our Union at this historic juncture, we need to work towards a faster and deeper integration of candidate countries in areas such as the internal market, energy and defense. First and foremost, in Ukraine.
In this endeavor, I have the support of the whole Commission. In her mission letters, President von der Leyen has tasked every single Member of her College to play an active role in supporting candidate countries. This means, our candidates can not just count on me, but on the expertise and dedication of the entire Commission.
We showed that last week, when President von der Leyen and the whole College of Commissioners went to Kyiv.
With us, we had an ambitious energy security package, mirroring what we had earlier in Moldova with the help of Commissioner Dan Jørgensen.
This package will fully integrate Ukraine into the EU electricity market, but also unlock the full potential of Ukraine’s vast gas storages. 80% of them are located close to EU member states. This will generate income for Ukraine. And it will increase the energy security for both the European Union and Ukraine. It’s a win-win.
We are also working on plans to accelerate the integration of Ukraine into many more parts of the Single Market—to attract more investments, to strengthen Europe-wide value chains, and to create new opportunities for both Ukrainian and European businesses. This will be a stepping stone to speed up the reconstruction of Ukraine.
Under the skilful guidance of Commissioner Dombrovskis, we have also taken bold steps to use the proceeds from immobilised Russian assets in the EU to provide around EUR 45 billion of G7 Extraordinary Revenue Acceleration Loans, which is giving Ukraine much needed liquidity in these difficult times.
And then there is defence. Here, the very same logic applies, but it is somewhat reversed. In defence, Ukraine has a lot to give. The integration of its highly innovative and thriving defence industry, with its capacity to scale, could be a fire starter for a much more integrated European defence market. Ukraine can be an enormous asset for a European Union that has to take more responsibility for its own security.
The new “ReArm Europe Plan”, proposed by President Von der Leyen earlier this week and aiming to mobilise close to EUR 800 billion, is a step in this direction. If adopted, the European Investment Bank will play a crucial role to ensure its success.
Accession to the European Union is not a sprint – it is a marathon. It takes dedication, resilience and steady progress. But every step forward brings real, tangible benefits, long before the finish line is reached. Just as a marathon runner passes key milestones on the way, candidate countries can achieve important reforms, attract investments and strengthen their economies throughout the journey. Enlargement is not just about the destination; it is about the transformation along the way.
The EU is supporting this journey by further integrating candidate countries into the European energy, defence and internal market. And also by providing funding, expertise and access to key programs that help modernise institutions, improve infrastructure and create opportunities for citizens and businesses.
This is why we are frontloading some of these benefits through our three Facilities – the Ukraine Facility, the Reform and Growth Facility for the Western Balkans, and, as soon as adopted, also the Reform and Growth Facility for Moldova. Here, we are working closely with International Financial Institutions, which can benefit from EU loan guarantees to facilitate investments in areas like infrastructure, education and technological innovation.
Thanks to our strong partnership with the EIB, EBRD, the World Bank Group and other European Financial Institutions, we are amplifying the impact of the EU budget by mobilizing additional funding and engaging the private sector.
Take an example from Ukraine – Last September, a consortium led by French Investor Xavier Niel invested more than half a billion EUR in acquiring and merging Lifecell, one of Ukraine’s largest mobile operators, and Datagroup-Volia, one of Ukraine’s largest fixed telecom and pay-TV providers. This historic transaction will support the growth and modernization of Ukraine’s telecom infrastructure in line with EU standards. It was also the first major investment by a new market entrant and major strategic investor since the full-fledged invasion, and it was made possible thanks to a joint loan by the EBRD and IFC, which was backed by EU and French guarantees.
Deals like this are a clear vote of confidence in the European future of candidate countries and their economic potential, and a proof that we can achieve great things by joining efforts.
With the Ukraine Facility, the EU is backing Ukraine with long-term, reliable support. Besides substantial budget support and technical assistance, under the Ukraine Investment Framework we are providing financial guarantees and grants that are already making a difference. So far, we have secured €1.4 billion to help Ukraine rebuild. And by working with financial partners like the European Investment Bank and the EBRD, we unlocked an additional €6 billion in investments—strengthening Ukraine’s energy system, rebuilding cities, and boosting its economy.
Today, we are signing a new EU guarantee with the EIB that will unlock an additional €2 billion for investments in critical public sector projects. This guarantee will further support urgent recovery and reconstruction projects in Ukraine, targeting critical infrastructure, including energy, transport, housing, water, and heating, while also advancing the country’s EU integration.
Similarly, in the Western Balkans, we have mobilised €6 billion in grants and loans to drive economic reforms and speed up the accession process as well as the integration into the EU Single Market. The Western Balkans Investment Framework is the key platform for the implementation of the Reform and Growth Facility, and we count on the existing good collaboration with EIB and other IFIs to ensure that the Facility delivers on its ambition.
A similar Growth Plan for Moldova will provide €1.9 billion, aiming to generate €3 billion in investments to modernize key sectors like energy, transport, and digital infrastructure.
In addition to our Facilities, the Commission has also been actively engaging with the EIB and with the Turkish authorities to prepare the ground for the Bank’s re-engagement in Türkiye in priority sectors. So long as Türkiye is willing to engage constructively, while respecting our fundamental values, we are ready to work together.
Our goal is clear: we invest in our future by investing in our candidates and partners. Stronger financial incentives, faster and deeper market integration will benefit all of us. And it is linked to the delivery on reforms.
This brings me to my final point: Reforms. Just like loan guarantees de-risk investments, so do the reforms that we are helping candidate countries implement in their accession path. Why do we insist so much on the rule of law? Because it is also a crucial economic factor.
Investors need to be confident that contracts will be upheld, regulations will remain stable, and disputes can be fairly resolved in court.
Our efforts to integrate our candidates deeper and faster into our single market can only pay dividends if European investors and businesses know they will find a business climate that is predictable and safe.
The economic case for EU enlargement has always been strong. For businesses and investors, this is an opportunity. As we integrate candidate countries into the Single Market, new doors are opening—offering access to growing economies and investment opportunities closer to home. And once these countries become full members, the potential will be even greater.
Enlargement is not a favour to candidate countries, it is an investment into our own peace, freedom, prosperity and security.
Every reform is a step towards a stronger economy, a fairer society, and a future within the European Union. With the EU support and guarantees, that future does not have to wait: investment opportunities and progress can start now.
Source – EU Commission