At 9 billion euros, the total aid package
New macroeconomic financial assistance for Ukraineamounting to 5 billion euros, was proposed today by European Commission.
In particular, the Commission, on behalf of the EU, proposes additional loans of EUR 5 billion in macro-financial assistance to Ukraine, as the second part of the emergency package totaling up to EUR 9 billion announced on 18 May 2022 and approved by the European Council of June 23-24, 2022.
The Commission disbursed the first €1 billion of this financial assistance package at the beginning of August. The remaining €3 billion will be provided as soon as possible.
As stated in the relevant announcement, this additional macroeconomic financial assistance of 5 billion euros it is part of the EU’s effort, together with the international community, to help Ukraine deal with its growing economic needs after the Russian invasion. The proposal will complement support already provided by the EU, including an emergency loan of €1.2 billion disbursed in the first half of the year. In total, the two legs of the program will bring total support to Ukraine since the start of the war to €7.2 billion and could reach up to €10 billion once the full package of emergency macroeconomic support to Ukraine is operational this year. Loans to Ukraine will be backed by guarantees provided by Member States, which will supplement provisions made available from the EU budget.
It is noted that to finance the macroeconomic financial support, the Commission borrows on the capital markets on behalf of the EU, alongside its other programs, mainly the NextGenerationEU and SURE.
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