You are using an older browser version. Please use a supported version for the best MSN experience.

Brussels disburses 2.5 billion more in macro-financial assistance to Ukraine

News 360 logo News 360 22/11/2022 Daniel Stewart
Ursula Von der Leyen, President of the European Commission, at the conference for the reconstruction of Ukraine. - Christophe Gateau/dpa © Provided by News 360 Ursula Von der Leyen, President of the European Commission, at the conference for the reconstruction of Ukraine. - Christophe Gateau/dpa

The European Commission announced Tuesday a new disbursement of €2.5 billion in macro-financial assistance to Ukraine, bringing to €5.5 billion the funds in support of Kiev since the start of the Russian invasion last February.

Specifically, the President of the European Commission, Ursula von der Leyen, has informed in a message on social networks that the European Executive releases 2.5 billion more, within the framework of the financial package announced in May endowed with 9 billion.

Up to now, Brussels had made available funds amounting to 3 billion, in addition to 1.2 billion in emergency loans immediately after the outbreak of the war. According to its calculations, it will have released 7.2 billion by 2023 to meet the needs in Ukraine, 6 billion of it as part of the committed package.

A further 3 billion remains to be processed from that plan. Brussels is working to define this disbursement at a time when Brussels has faced criticism for the delay in sending the funds and when the European Executive is looking to next year with the idea of achieving a financing mechanism that guarantees constant and sustainable aid to Kiev.

To this end, Von der Leyen has proposed an annual aid of 18 billion to be earmarked on a regular basis to alleviate urgent needs as well as start reconstruction efforts in the country. "We will continue to support Ukraine for as long as necessary," the German conservative stressed in her statement.

Ukrainian President Volodimir Zelenski has thanked on Twitter for the European aid, "a forceful contribution to the stability of UCraine on the eve of a difficult winter." He now hopes that the EU will manage to push through the annual fund for 2023, valued at €18 billion.

AdChoices
AdChoices
image beaconimage beaconimage beacon