EU prepares €50 billion financial aid package for Ukraine – Bloomberg
It will be allocated for 2024-2027 and is intended to cover the Ukrainian government's current expenses and finance the most priority projects for the country's restoration
The European Union is ready to offer Ukraine a €50 billion ($55 billion) financial aid package, which will be allocated in the next 4 years.
This was reported by Bloomberg.
"The package, which could still be subject to changes before its publication, will be announced on Tuesday ahead of this week's conference in London, where donors will discuss how to restore the country and Ukrainian officials will seek to engage the private sector," the report says.
It is noted that the European Commission will offer assistance in the form of grants, concessional loans, and guarantees.
"The proposal, which is part of a review of the EU's long-term budget, will cover the period from 2024 to 2027. This will be annually less than the 18 billion euros of financial aid that the EU is offering this year," the report clarifies.
It is expected that the plan will be financed through contributions from member states, not by borrowing from the markets. "The package aims to combine assistance used for payment of wages, pensions, and some state services, with expenses related to the restoration of basic infrastructure," the report states.
Since the beginning of the full-scale russian invasion on Ukraine, the EU and its member states have approved nearly 38 billion euros of economic aid.
Background. As Mind reported, the European Union was preparing a four-year plan for financial support to Ukraine.
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