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EU Council approves extra aid to Ukraine worth EUR 5 bln
(Text after paragraph three has been added)
KYIV. Sept 20 (Interfax-Ukraine) – On Tuesday, the EU Council has officially decided to provide Ukraine with an urgent additional macro-financial assistance (MFA) in the amount of EUR 5 billion, the press service of the European Council reports.
"On September 9, EU ministers for finance had agreed a statement in support of these additional EUR 5 billion assistance for Ukraine at the informal Ecofin Council meeting in Prague. Today, this additional assistance was formally adopted, after the necessary formal steps were completed within just 11 days," the report notes.
It is noted that this financial assistance complements other EU support to Ukraine in the humanitarian, development, customs and defence fields.
This EUR 5 billion macro-financial assistance will be provided to Ukraine in the form of "highly concessional long-term loans."
"It constitutes the second stage in the implementation of the planned full Union’s exceptional macro-financial assistance to Ukraine for up to EUR 9 billion, announced by the European Commission in its communication of May 18, 2022 and endorsed by the European Council on June 23-24, 2022," the Council notes.
This decision should be followed swiftly by the adoption of a further decision implementing the third stage of the planned full Union’s exceptional macro-financial assistance for a further amount of up to EUR 3 billion, once the design of that assistance has been determined.
