EU to offer new EUR 18 billion financial aid mechanism to Ukraine, says Bloomberg

8 November 2022, 11:44 AM
EU (Photo:REUTERS/Yves Herman)

EU (Photo:REUTERS/Yves Herman)

The plan is expected to be presented on Nov. 9 and will determine a “sustainable framework” that will allow the financing of Ukraine's expenses in 2023, Bloomberg said.

 “The new instrument for Ukraine would provide highly concessional loans to cover immediate needs, rehabilitation of critical infrastructure and initial support toward postwar reconstruction.”

According to the publication, the EU plan will allow Kyiv to receive loans “in a more predictable manner,” keeping the mechanism flexible “to adjust the aid to evolving funding needs.”

Video of day

European Commission President Ursula von der Leyen after the summit of EU leaders in Brussels on Oct. 21 said that the leaders of the member states agreed to allocate regular monthly assistance to Ukraine of EUR 1.5 billion next year, and instructed the finance ministers to develop a mechanism for paying these funds.

Follow us on Twitter, Facebook and Google News

Ukraine Today
Fresh daily newsletter covering the top headlines and developments in Ukraine
Daily at 9am EST
Show more news