The European Commission on Friday proposed new macro-financial assistance to Ukraine worth €1 billion, the first tranche of a €9 billion package approved in May.
The proposal integrates “an extraordinary effort” by the European Union (EU), together with the international community, to help Ukraine meet its financial needs consequence of the Russian invasion.
Along with other financing already delivered in the first half of 1.2 billion euros, Ukraine will receive 2.2 billion in macro-financial assistance, amount that could reach ten billion eurosonce the program is fully operational.
According to the proposal, assistance funds will be made available to Ukraine within the framework of the long term loan formunder favorable conditions.
The assistance will support Ukraine’s macroeconomic stability and overall resilience in the context of Russian military aggression and subsequent economic challenges.
Ukraine will have access to the €1 billion budget proposal once the European Parliament and the Council of the EU give their approval and the corresponding Memorandum of Understanding and Loan Agreement is signed with the kyiv authorities.
Source: Observadora
