The EU Is Ready to Provide Ukraine With €50 Bln

by Meifan Honcharuk
Tuesday, June 20, 2023
The EU Is Ready to Provide Ukraine With €50 Bln

Funds will be allocated through grants, soft loans and guarantees

On June 20, Bloomberg reported on the readiness of the European Union to provide Ukraine with €50 billion to support our state in such a difficult and responsible time as the counter-offensive. The funds will be directed to reducing economic stress in crucial public and social areas: administrative costs (salaries, pensions, etc.), reconstruction and restoration of infrastructure, etc.

The terms of the package will be announced on June 21 at the London Conference on the UkraineRecovery. Anonymous Bloomberg informants, who are familiar with this aid package report that in order to ease the burden on Ukraine, the money will be provided in the form of grants, soft loans and guarantees. This package differs from the previous ones provided by the European Union: this money must be accumulated not from market borrowing but from voluntary contributions of the EU member states. Russian assets that are under sanctions can also be used.

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