Copyright © 2021 Euromaidanpress.com

The work of Euromaidan Press is supported by the International Renaissance Foundation

When referencing our materials, please include an active hyperlink to the Euromaidan Press material and a maximum 500-character extract of the story. To reprint anything longer, written permission must be acquired from [email protected].

Privacy and Cookie Policies.

European Council allocates 18 billion euros to help Ukraine financially throughout 2023

The building of the MFA of Ukraine, adorned with Ukrainian and EU flags

The Council of the European Union reached an agreement on a legislative package that will enable the EU to help Ukraine financially throughout 2023 with €18 billion, according to the press releases of the European Council.

The proposal, which was adopted by the Council on 10 December via a written procedure, will be submitted to the European Parliament for its possible adoption next week. Hungary remains the only EU member state that opposes the decision to provide macro-financial help to Ukraine on behalf of the EU and insists that every EU country should provide financial support to Ukraine individually.

The 18-billion loan will have a 10-year grace period. Member states will cover the bulk of the interest costs via externally assigned revenues. The guarantees for that borrowing will be provided either by the EU budget or by member states.

The aim is to provide short-term financial relief, financing Ukraine’s immediate needs, rehabilitation of critical infrastructure, and initial support towards sustainable post-war reconstruction, with a view to supporting Ukraine on its path towards European integration.

Related:

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!
Total
0
Shares
Related Posts