European Commission Transfers 3 Billion Euros to Ukraine

The total volume of financial and military assistance of the European Union to the Ukrainian people by the end of 2023 will reach 49billion euros. The European Commission transferred to Ukraine the first tranche of 3 billion euros of the package of macro-financial assistance of 18 billion euros. This is reported on the website of the EC on Tuesday, January 17. “Supporting Ukraine in meeting its financing needs in the face of Russian aggression is extremely important and urgent. Today’s disbursement of the first 3 billion euros of up to 18 billion euros of macro-financial support agreed in December shows that the Commission is acting with the utmost speed and determination,” said EU President Ursula von der Leyen. The credit funds are allocated on preferential terms for a period of 35 years with payments starting from 2033. At the same time, as a sign of solidarity, the EU also offered to cover Ukraine’s expenses on interest rates with additional payments by member states to the EU budget. “Future payments to Ukraine of 1.5 billion euros per month will continue from March and will be contingent on satisfactory progress in meeting agreed conditions as well as continued compliance with reporting requirements,” the statement said. The total amount of financial and military assistance of the European Union to the Ukrainian people by the end of 2023 is indicated to reach 49 billion euros since the beginning of the war unleashed by Russia. Earlier, the IMF forecasted that Ukraine may need up to 57 billion dollars in external financing in 2023.