European Commission tables 1.2B assistance package for Ukraine

Photo Ukrinform

The European Commission has tabled a proposal for a new emergency macro-financial assistance program for Ukraine of up to EUR 1.2 billion, as earlier announced by Commission President Ursula von der Leyen.

“The European Commission has tabled today a proposal for a new emergency macro-financial assistance program for Ukraine of up to €1.2 billion as announced by President Ursula von der Leyen last week. This program will contribute to enhancing Ukraine’s macroeconomic stability and overall resilience in the current context. The macro-financial assistance funds will be made available to Ukraine in the form of long-term loans on highly favorable terms,” EC Spokesperson Veerle Nuyts announced at a briefing in Brussels, an Ukrinform correspondent informs.

The Spokesperson noted that a swift adoption of this proposal by the Council of the European Union and the European Parliament would allow the European Commission to immediately disburse a first tranche of EUR 600 million to Ukraine. The second tranche will be disbursed following a positive assessment of progress made by the Ukrainian authorities “with the implementation of a limited number of agreed short-term policy measures.”

This new macro-financial assistance program complements the significant assistance that the EU has already provided to Ukraine to support the country’s resilience and modernization, as well as to combat the COVID-19 pandemic, totaling more than EUR 17 billion since 2014, Nuyts underscored.

On January 24, European Commission President Ursula von der Leyen announced that the European Commission would provide Ukraine with a EUR 1.2 billion package of financial assistance. EU Commissioner for Neighborhood and Enlargement Olivér Várhelyi said during his recent visit to Kyiv that the European Union planned to disburse the first tranche to Ukraine as soon as possible.

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