As Ukraine grapples with nearly two years of relentless conflict, the outcome remains unclear. While significant strides have been made, the war's toll is evident, and crucial international support is at risk. A new CEPR Policy Insight argues that backing Ukraine is not just an act of charity; it is a commitment to defending the international rule of law, European democracy, and security. 

The stakes are high. Ukraine's resilient spirit is evident in the preservation of statehood, territorial gains, and economic stability. However, the impact of war is taking a heavy toll. To prevail, Ukraine needs unwavering support to counter threats to democracy and security posed by Russia's aggression under Putin.  

This Policy Insight proposes two vital initiatives. First, a 'financing democracy' deal, urging sustained support from leading democracies beyond existing IMF and EU programmes. Second, a cooperative framework to navigate inevitable tensions during the prolonged period of extraordinary needs, entrusting Ukraine to develop and implement a credible reconstruction plan. 

The authors argue that the more aid Ukraine receives today, the quicker it can potentially win the war and embark on the path to recovery. With a legitimate government committed to self-sufficiency and integration with Europe, Ukraine's plea for global solidarity resonates more than ever. The authors urge Ukraine’s allies to stand united, strengthen cooperation and resolve, and maximise the chances of Ukraine's success in defense and reconstruction.