Ukraine Receives €18 Bln From the EU

by Olha Povalaieva
Tuesday, January 17, 2023
Ukraine Receives €18 Bln From the EU

The parties signed a memorandum on financial assistance during the war

On January 16, the prime minister of Ukraine Denys Shmyhal, announced signing a new memorandum with the EU. According to the document, in 2023, the European Union allocated Ukraine financial assistance of €18 billion. Note that this amount was approved by EU members last December.

According to the memorandum, financial assistance has become stable – monthly, Ukraine will receive up to €1.5 billion. However, the first bid will be $3 billion. According to the prime minister, first aid will be received this week. Where the financial aid will be sent is also publicly announced.

"This will help maintain macroeconomic stability going forward," wrote Denys Shmyhal on Twitter.

Ukraine will repay these funds through concessional loans for 35 years starting in 10 years. 

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