The European Union and Ukraine have signed a memorandum of understanding to provide macro-financial assistance of €18.1 billion ($19.1 billion) from the proceeds of frozen Russian assets, Prime Minister Denys Shmyhal reported on Telegram on Nov. 29.
“This is part of the G7 package worth $50 billion,” he wrote.
“It is not only support, but also a precedent for bringing Russia to justice for its crimes and starting the process of making the aggressor pay for its brutal war.”
On Oct. 26, the European Commission welcomed the EU and G7 decision to provide Ukraine with a total of about $50 billion in loans as part of the G7 initiative, with the EU planning to contribute $19 billion.
On Nov. 14, the European Commission also agreed to allocate EUR 4.1 billion ($4.3 billion) to Kyiv under the Ukraine Facility program.
Earlier, on Nov. 22, World Bank approved $4.8 billion for Ukraine under PEACE project.