The Council reached an agreement on a legislative package that will enable the EU to help Ukraine financially throughout 2023 with €18 billion. The proposal was adopted by the Council via a written procedure and it will be submitted to the European Parliament.
”Ukraine can count on the EU. We will continue to support Ukraine, also financially, for as long as it takes. The legislation which we adopted means that Ukraine can count on regular financial help from the EU throughout 2023,” Zbyněk Stanjura, Minister of Finance of Czechia
The package provides for a structural solution to financially support Ukraine in 2023. The amount to be lent to Ukraine in 2023 will be €18 billion, and the loans will have a 10-year grace period. Member states will cover the bulk of the interest costs via externally assigned revenues. The guarantees for that borrowing will be provided either by the EU budget or by member states.
The aim is to provide short-term financial relief, financing Ukraine’s immediate needs, rehabilitation of critical support, and initial support towards sustainable post-war reconstruction, with a view to supporting Ukraine on its path towards European integration. A part of the legislative package, an amendment to the financial regulation, had already been adopted by the Council in Ecofin formation on 6 December.
See also: 🔴 LIVE UPDATES | Humanitarian response to Ukraine crisis