Brussels provides Ukraine with 1.2 billion euros financial assistance package

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

Related articles

Editor's choice
News
UAE says it will withdraw from Yemen, but division emerges in Yemeni presidential council

UAE says it will withdraw from Yemen, but division emerges in Yemeni presidential council

In a move seen as an attempt to de-escalate a crises with Saudi Arabia, the United Arab Emirates, on Tuesday (30th December) announced that it was heeding a call to withdraw its troops from Southern Yemen. UAE says that its presence included counter-terrorism teams that were crucial in fighting against Islamist groups. UAE sources said that parts of Yemen not controlled by the Houthis have had Al Qaeda in the Arab Peninsula (AQAP) operatives using the territory to launch attacks on Europe, the US and Middle East. UAE teams have co-ordinated with American and British special forces and intelligence. The sources added that Emirati forces and their Yemeni allies also helped reverse Houthi gains in the south. including the liberation of Aden port. The small UAE contingent has remained in place since the UAE withdrew most of its military personnel in 2019. The leading English-language newspaper in Abu Dhabi, The National, said that the main UAE force was based at Riyan Mukalla International Airport, with access to fixed-wing aircraft and helicopters, but also operated smaller contingents in the port town Balhaf and Shabwa. "It is understood it also flew a number of drones from the airbase that were able to track terrorist movements, pass information back to its allies and assisted special forces' missions." Meanwhile a division has emerged in Yemen's presidential council after four members denounced what they called the 'unilateral decisions' by the chairman. Four of Yemen’s eight Presidential Leadership Council members on Tuesday denounced an announcement by the council’s chairman accusing him of breaching the governing agreement. Tension between Yemeni leaders has been rising for weeks, underscoring the fragility of the country's already fractured political landscape and further complicating efforts to confront the Iran-backed Houthi rebels. The latest rift took an unprecedented turn on Tuesday morning, marked by a Saudi-led coalition “limited operation” striking combat vehicles Riyadh linked to the Southern Transitional Council, which has three members in the PLC. The PLC Chairman, Rashad al Alimi, on Tuesday said that he was seeking to cancel the joint defence agreement with the UAE. “What has been issued … constitutes a clear violation of the Declaration of the Transfer of Power [agreement], which explicitly stipulates that the Presidential Leadership Council is a collective body whose decisions are taken by consensus, or by majority when consensus is not possible,” the statement by the four members said. “It does not, under any circumstances, allow for unilateral decision-making on sovereign, military, or major political matters." The statement was signed by STC chief Aidarous Al Zubaidi, Faraj Al Bahsani, Tariq Saleh and Abu Zaraa al Muharrami. (click the picture to read the full article).

Popular

Editor's choice
News
UAE says it will withdraw from Yemen, but division emerges in Yemeni presidential council

UAE says it will withdraw from Yemen, but division emerges in Yemeni presidential council

In a move seen as an attempt to de-escalate a crises with Saudi Arabia, the United Arab Emirates, on Tuesday (30th December) announced that it was heeding a call to withdraw its troops from Southern Yemen. UAE says that its presence included counter-terrorism teams that were crucial in fighting against Islamist groups. UAE sources said that parts of Yemen not controlled by the Houthis have had Al Qaeda in the Arab Peninsula (AQAP) operatives using the territory to launch attacks on Europe, the US and Middle East. UAE teams have co-ordinated with American and British special forces and intelligence. The sources added that Emirati forces and their Yemeni allies also helped reverse Houthi gains in the south. including the liberation of Aden port. The small UAE contingent has remained in place since the UAE withdrew most of its military personnel in 2019. The leading English-language newspaper in Abu Dhabi, The National, said that the main UAE force was based at Riyan Mukalla International Airport, with access to fixed-wing aircraft and helicopters, but also operated smaller contingents in the port town Balhaf and Shabwa. "It is understood it also flew a number of drones from the airbase that were able to track terrorist movements, pass information back to its allies and assisted special forces' missions." Meanwhile a division has emerged in Yemen's presidential council after four members denounced what they called the 'unilateral decisions' by the chairman. Four of Yemen’s eight Presidential Leadership Council members on Tuesday denounced an announcement by the council’s chairman accusing him of breaching the governing agreement. Tension between Yemeni leaders has been rising for weeks, underscoring the fragility of the country's already fractured political landscape and further complicating efforts to confront the Iran-backed Houthi rebels. The latest rift took an unprecedented turn on Tuesday morning, marked by a Saudi-led coalition “limited operation” striking combat vehicles Riyadh linked to the Southern Transitional Council, which has three members in the PLC. The PLC Chairman, Rashad al Alimi, on Tuesday said that he was seeking to cancel the joint defence agreement with the UAE. “What has been issued … constitutes a clear violation of the Declaration of the Transfer of Power [agreement], which explicitly stipulates that the Presidential Leadership Council is a collective body whose decisions are taken by consensus, or by majority when consensus is not possible,” the statement by the four members said. “It does not, under any circumstances, allow for unilateral decision-making on sovereign, military, or major political matters." The statement was signed by STC chief Aidarous Al Zubaidi, Faraj Al Bahsani, Tariq Saleh and Abu Zaraa al Muharrami. (click the picture to read the full article).