EC to propose 1.5B euro a month to help Ukraine’s financing needs for 2023
European Commission (EC) President von der Leyen has told Ukrainian President Volodymyr Zelenskyy that she would this week propose a substantial financial package from the European Union of up to 1.5 billion euro a month, totalling up to 18 billion euro, which would contribute significantly to cover Ukraine’s financing needs for 2023.
This is according to a statement issued by the EC after Von der Leyen and Zelenskyy spoke on the phone on November 6.
The main focus of the conversation was on ensuring financial support for Ukraine in the months ahead, the EC said.
Both leaders recognised the importance of ensuring predictable and regular funding of essential state functions, the statement said.
“The support in the form of highly concessional long-term loans, with coverage of the interest costs, would also work to support Ukraine’s reforms and its path towards EU membership,” it said.
The EC said that the EU financial package would need to be matched by similar support from other major donors.
Von der Leyen confirmed ongoing work by the EU to continue to provide immediate humanitarian support to Ukraine, particularly over the winter. She reiterated that the EU is in it for the long haul in its support for Ukraine.
The statement said that the leaders also discussed the importance of ensuring Ukraine’s agricultural exports can reach the world.
In addition to full support for the UN’s efforts to reach agreement with Russia on the Black Sea Grain Initiative, the leaders also discussed plans to expand the capacities of the EU-Ukraine Solidarity Lanes, which have so far been used to transport the great majority of Ukrainian agricultural and non-agricultural exports since the start of the Russian war.
Von der Leyen and Zelenskyy discussed strengthening sanctions, as well as the negative role played by Iran’s support for Russia’s aggression and how to respond, the EC statement said.
(Photo: EC Audiovisual Service)
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