European Commission Considers Providing Ukraine €8 Bln

by Olha Povaliaieva
Sunday, August 7, 2022
European Commission Considers Providing Ukraine €8 Bln

A new project of assistance to Ukraine from the European Commission provides for 5 billion loans and 3 billion grants

EU officials announced a package of assistance to Ukraine, which the European Commission is now developing. According to officials, 5 billion loans will be provided to Ukraine under the guarantees of the EU countries, and interest payments will be subsidized from the EU budget.

The European Commission began to develop this project after Olaf Scholz blocked the transfer of €9 billion in loans to Ukraine. According to the chancellor, grants will help Ukraine more, and he cited his own grant of €1 billion as an example. France and Italy joined Scholz.

According to officials, if the European Commission manages to get the approval of the European Parliament in September, then Ukraine will be able to receive the first payments in October.

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