EU Develops €18 Bln Annual Assistance Package to Ukraine

by Olha Povaliaieva
Monday, November 7, 2022
EU Develops €18 Bln Annual Assistance Package to Ukraine

Ursula von der Leyen will offer a monthly aid of €1.5 bln to cover the urgent needs of Ukraine in 2023

The website of the European Commission posted information about the conversation between presidents Volodymyr Zelenskyy and Ursula von der Leyen. According to the information, in 2023, Ukraine can count on significant support from the European Commission.

"President von der Leyen informed president Zelenskyy that she would this week propose a substantial financial package from the EU of up to €1.5 billion a month, totalling up to €18 billion, which would contribute significantly to cover Ukraine's financing needs for 2023. Both leaders recognised the importance of ensuring predictable and regular funding of essential state functions."

According to the European Commission, highly concessional long-term loans plus interest rate coverage will benefit Ukraine's reformation in the process of European integration. Ursula von der Leyen stressed that other donors, just like the European Union, would need to support Ukraine and added that the EU is now working on providing urgent humanitarian assistance against the background of the approaching winter in de-energised Ukraine.

"President von der Leyen reiterated that the EU is in it for the long haul in its support for Ukraine."

A separate topic was the export of agricultural products from Ukraine. The presidents discussed UN assistance in supporting the methods of reaching agreements with the aggressor country. In addition, the leaders discussed the future expansion of the ways of cooperation between Ukraine and the European Union: until now, these routes have been used for exports from Ukraine. An increase in their capacity will have a beneficial effect on the well-being of other states.

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