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European Union To Propose $1.5 Bn A Month Package To Ukraine
Ursula von der Leyen, President of the European Commission confirmed the EU's ongoing efforts to provide immediate humanitarian assistance to Ukraine, particularly during the winter
Photo Credit :
Ursula von der Leyen, President of the European Commission
Reiterating its solidarity with war-torn Ukraine, the European Union is set to propose a substantial financial package of up to USD 1.5 billion per month to the country, which would help cover its financing needs by 2023.
Ursula von der Leyen, President of the European Commission, made the announcement via Twitter. She tweeted, “It's great to keep in touch with Volodymyr Zelenskyy. Positive developments: we will propose a financial assistance package for Ukraine in 2023 this week. The EU will stand by Ukraine for as long as it takes.”
This comes after EU President Donald Tusk met with Ukraine President Volodymyr Zelenskyy on Sunday. The main agenda of the talk was to ensure Ukraine's financial support in the coming months.
President von der Leyen informed President Zelenskyy that this week, she would propose to the EU a substantial financial package of up to USD 1.5 billion per month, totalling up to USD 18 billion, which would significantly contribute to Ukraine's financing needs for 2023.
Both leaders recognised the significance of ensuring substantial and consistent funding of critical state functions. “Support in the form of highly concessional long-term loans with interest cost coverage would also work to support Ukraine's reforms and path to EU membership,” the European Commission said in a statement.
President von der Leyen confirmed the EU's ongoing efforts to provide immediate humanitarian assistance to Ukraine, particularly during the winter. She emphasised that the EU is committed to Ukraine for the long term.
The leaders also discussed the importance of ensuring that Ukraine's agricultural exports reach the global market. In addition to fully supporting the UN's efforts to reach an agreement with Russia on the Black Sea Grain Initiative and plans to expand the capacities of the EU-Ukraine Solidarity Lanes, which have been used to transport the majority of Ukrainian agricultural and non-agricultural exports since the start of the Russian war.