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EC to propose an EU €18 billion package to cover Ukraine’s financing needs for 2023

#StandWithUkraine
November 7,2022 721
EC to propose an EU €18 billion package to cover Ukraine’s financing needs for 2023

European Commission President Ursula von der Leyen told Ukraine’s President Volodymyr Zelensky that “she would this week propose a substantial financial package from the EU of up to €1.5 billion a month, totaling up to €18 billion, which would contribute significantly to cover Ukraine’s financing needs for 2023,” the EC reported.

In a phone conversation yesterday, “both leaders recognized the importance of ensuring predictable and regular funding of essential state functions.”

“The support in the form of highly concessional long-term loans, with coverage of the interest costs, would also work to support Ukraine’s reforms and its path towards EU membership. The EU financial package would need to be matched by similar support from other major donors. President von der Leyen confirmed ongoing work by the EU to continue to provide immediate humanitarian support to Ukraine, particularly over the winter. President von der Leyen reiterated that the EU is in it for the long haul in its support for Ukraine,” according to the readout of the phone call.

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