EC proposes €11 bln long-term aid package for Ukraine
22:49
The president of the European Commission, Jose Manuel Barroso, has announced that the EU will propose a a support package amounting to €11 billion “to assist economically and financially Ukraine.”
“The most immediate priority for the EU is to contribute to a peaceful solution to the current crisis, in full respect of international law,” said President Barroso.
“The European Commission is proposing today a package designed to assist a committed, inclusive and reforms oriented Government in rebuilding a stable and prosperous future for Ukraine. What we propose could bring overall support of at least €11 billion over the next couple of years from the EU budget and EU-based international financial institutions,” Barroso added.
The package will consist of €3 billion from the EU budget in the coming years, €1.6 billion in macro financial assistance loans (MFA) and an assistance package of grants of €1.4 billion, a statement from the EC reads.
Additionally, aid will come in the form of up to €8 billion from the European Investment Bank and the European Bank for Reconstruction and Development.
