EU confirms plans for 1.5 bn in monthly aid to Ukraine

The European Union’s chief executive, Ursula von der Leyen, has confirmed plans to provide Ukraine with up to EUR 1.5 billion in aid a month in 2023.

Ursula von der Leyen

Ursula von der Leyen EPA/STEPHANIE LECOCQ

During a phone call with Ukrainian President Volodymyr Zelensky on Sunday, von der Leyen said she would „this week propose a substantial financial package from the EU of up to EUR 1.5 billion a month, totalling up to EUR 18 billion, which would contribute significantly to cover Ukraine’s financing needs for 2023,” according to a statement.

„The main focus of the conversation was on ensuring financial support for Ukraine in the months ahead,” the European Commission, the EU’s executive arm, said in a statement.

„Both leaders recognised the importance of ensuring predictable and regular funding of essential state functions,” the statement added.

„The support in the form of highly concessional long-term loans, with coverage of the interest costs, would also work to support Ukraine’s reforms and its path towards EU membership,” according to the European Commission.

It said von der Leyen „confirmed ongoing work by the EU to continue to provide immediate humanitarian support to Ukraine, particularly over the winter.”

She also reiterated that „the EU is in it for the long haul in its support for Ukraine,” according to the statement.

Ukraine’s Zelensky said in a tweet that he and von der Leyen discussed macro-financial aid to Ukraine for this year and next.

He added that, during the phone call, he „noted the importance of continuing the grain initiative for world food security” and „discussed increasing sanctions and opposing actions of Iran, which supports aggression.”


Source: PAP,