EU Council approves only one of three docs needed for providing €18 bn aid for Ukraine

06/12/2022

1 minute read

The Council of the European Union failed to adopt a complete package consisting of three pieces of legislation needed to provide Ukraine with €18 billion in macro-financial assistance in 2023.

“The Council discussed a legislative package on €18 billion in financial support to Ukraine. It adopted one of the three pieces of legislation which aim to provide for a structural solution to financially support Ukraine in 2023,” according to a statement published on the website of the European Council following a meeting of the EU Economic and Financial Affairs Council, which took place in Brussels on 6 December.

The document adopted today is an amendment to the financial regulation, allowing the financing of the macro-financial assistance to take place within the so-called diversified funding strategy.

Meanwhile, the Council failed to adopt an amendment to the multiannual financial framework, allowing the use of the headroom to guarantee the borrowing for Ukraine in the years 2023 and 2024, as well as the macro-financial assistance + instrument (“MFA+ instrument”) which creates the framework to provide the support to Ukraine, including the areas of support and the conditions for Ukraine to benefit from that support.

Senior EU officials have vowed to ensure Ukraine gets €18 billion in financial aid after Hungary vetoed the release of the funds – The Guardianhttps://t.co/DORdVcpe2T

— Euromaidan Press (@EuromaidanPress) December 6, 2022

You could close this page. Or you could join our community and help us produce more materials like this. We keep our reporting open and accessible to everyone because we believe in the power of free information. This is why our small, cost-effective team depends on the support of readers like you to bring deliver timely news, quality analysis, and on-the-ground reports about Russia's war against Ukraine and Ukraine's struggle to build a democratic society. A little bit goes a long way: for as little as the cost of one cup of coffee a month, you can help build bridges between Ukraine and the rest of the world, plus become a co-creator and vote for topics we should cover next. Become a patron or see other ways to support. Become a Patron!

To suggest a correction or clarification, write to us here

You can also highlight the text and press Ctrl + Enter