EC proposes 1.2BN euro emergency aid package for Ukraine

Written by on January 24, 2022 in Europe - Comments Off on EC proposes 1.2BN euro emergency aid package for Ukraine

The European Commission (EC) is proposing a new emergency macro-financial assistance package of 1.2 billion euro for Ukraine, EC President Ursula von der Leyen said on January 24.

“This package will help Ukraine now to address its financing needs due to the conflict,” Von der Leyen said.

She said that the EC was counting on the European Council and the European Parliament to approve the emergency assistance package as soon as possible.

“We will then proceed to the rapid disbursement of a first tranche of 600 million euro.”

Von der Leyen said that the Commission would soon start work on a second, longer-term macro-financial assistance package to support Ukraine’s modernisation efforts.

“Second, the Commission will almost double its bilateral assistance to Ukraine in grants this year: Another 120 million euro will be allocated.

“This support will strengthen Ukraine’s state-building and resilience efforts,” she said.

“On top of this, we will continue to invest in the country’s future, thanks to our Investment Plan for the country,” Von der Leyen said.

This plan aims to leverage more than six billion euro in investments, she said.

“Let me be clear once more: Ukraine is a free and sovereign country. It makes its own choices. The EU will continue to stand by its side.”

Von der Leyen said that she had spoken to Ukrainian President Volodymyr Zelenskyy on January 21 to assess the situation in Ukraine created by Russia’s aggressive actions.

“We discussed how the EU could continue to support Ukraine, both in the immediate and medium term. As ever, the EU stands by Ukraine in these difficult circumstances.”

Von der Leyen said that the EU had already provided significant assistance to Ukraine, both to support the country’s resilience and modernisation, and specifically to fight the Covid-19 pandemic.

Since 2014, the EU and European financial institutions have allocated more than 17 billion euro in grants and loans to Ukraine, she said.

(Photo of Von der Leyen: Christophe Licoppe/ EC Audiovisual Service)

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