What happened? Last night, the Council of the European Union reached an agreement on a €18 billion financial assistance package for Ukraine for 2023.
Source. Press service of the Council.
Details. Loans granted to Ukraine within the package will have a 10-year grace period.
“Member states will cover the bulk of the interest costs via external assigned revenues. The guarantees for that borrowing will be provided either by the EU budget or by member states,” the EU Council informed.
The aim of the programme is to provide short-term financial assistance, financing of Ukraine's urgent needs, rehabilitation of critical infrastructure, as well as initial support for sustainable post-war recovery in order to support Ukraine on its path to European integration.