Ursula von der Leyen: The EU will reserve 50 billion euros for Ukraine
The package will include both borrowings and grants
European Commission President Ursula von der Leyen has called for the EU budget to set aside 50 billion euros to be provided to Ukraine over the next four years as part of the country's reconstruction plan.
Source. This was reported by the BBC.
"This includes both borrowing and grants. This reserve will provide prospects for our partners in Ukraine, predictability and stimulate other donors," von der Leyen said.
We propose a facility for Ukraine for the next 4 years of up to €50 bn.
– Ursula von der Leyen (@vonderleyen) June 20, 2023
To provide predictable finance to 🇺🇦 on its EU path, together with global partners and private sector.
On migration, we support external border protection & economic development of our partners with €15… pic.twitter.com/KCO0jp2SJu
The large financial package of assistance for Ukraine's recovery was previously reported as a proposal, and the statement by the European Commission President makes it official.
According to her, the war requires extraordinary flexibility from Ukraine's allies, and the financial reserve will allow the EU authorities to calibrate financial support according to the situation.
She also said that the EU budget is at its limit, as the bloc has recently had to deal with many crises.
Ursula von der Leyen emphasized that Ukraine is currently a priority on the EU's agenda, followed by migration, external threats and strengthening the bloc's competitive capacity.
Background. The day before, it was reported that the EIB would provide 100 million euros for Ukraine's rapid recovery – the money was provided under the guarantee of the European Union.
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