EU Council adopts €18 billion assistance to Ukraine
Baku, December 11, AZERTAC
The Council reached agreement on a legislative package which will enable the EU to help Ukraine financially throughout 2023 with €18 billion, according to the official website to the European Council of the European Union.
The proposal was adopted by the Council today via a written procedure and it will be submitted to the European Parliament for its possible adoption next week.
The package provides for a structural solution to financially support Ukraine in 2023. The amount to be lent to Ukraine in 2023 will be €18 billion, and the loans 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 aim is to provide short-term financial relief, financing Ukraine’s immediate needs, rehabilitation of critical infrastructure and initial support towards sustainable post-war reconstruction, with a view to supporting Ukraine on its path towards European integration.
A part of the legislative package, an amendment to the financial regulation, had already been adopted by the Council in Ecofin formation on 6 December.
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