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Brussels provides Ukraine with 1.2 billion euros financial assistance package

24 January 2022

The European Commission proposes to support Ukraine with 1.2 billion euros of new financial assistance package made of both emergency loans and grants. The country is experiencing financial liquidity problems since borrowing is becoming more complex and expensive now that Russia uses threatening language and has deployed military troops and heavy weapons close to Ukraine's border.

"The commission announces a new financial aid package, which includes loans and grants", President of the European Commission, Ursula von der Leyen, said on Monday (24 January). "This package will help Ukraine now to address its financing needs due to the conflict", Von der Leyen said.

"We count on the Council and the European Parliament to adopt this macro-financial assistance package (MFA) as soon as possible. We will then proceed to the rapid disbursement of a first tranche of EUR 600 million", the statement reads.

The Commission will also give Ukraine another 120 million euros this year to help it strengthen its state-building and become more resilient. The Commission's wants to invest in a longer-term assistance programme to help Ukraine modernise. Brussels also wants to assist in attracting foreign investment worth 6 billion euro.

"Let me be clear once again," Von der Leyen said. "Let me be clear once more: Ukraine is a free and sovereign country. It makes its own choices. The EU will continue to stand by its side."


source: commonspace.eu with the European Commission
photo: President of the European Commission, Ursula von der Leyen, gives a statement on Ukraine. Reuters

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