€9 Billion From the EU to Ukraine

by Olha Povaliaieva
Wednesday, June 22, 2022
€9 Billion From the EU to Ukraine

By June 26, Ukraine will receive a tranche to cover urgent requirements

This week is crucial for Ukrainians in the near future. Ukrainian politicians and civilians expect the European Union to grant candidate status. But equally important for a war-torn country is the EU’s agreement on a financial aid package for Ukraine.

Bloomberg informs that the representatives of the European Union should, by the end of the week, resolve all issues related to financial assistance for Ukraine. The channel refers to people who are close to the process of negotiating the package.

Europe plans to provide €9 billion. The exact amount and the deadline for the return of aid will be set on June 23-24 during the meeting in Brussels. It is now known that the tranche will have a 10-year grace period to recover the principal. The term of macro-financial assistance will be 25 years.

It should be noted that this amount of aid was first announced in May. The 27 members of the European Union must vote for the loan. Previously, the members failed to reach an agreement. Therefore, the European Commission is now considering guarantees to secure credit in the event of Ukraine’s default and several other business issues. It is assumed that, in particular, the treaties will include periods of war and reconstruction to avoid the diversion of funds.

You will be interested