EU adopts €18 billion assistance to Ukraine
December 12, 2022

EU adopts €18 billion assistance to Ukraine

On 10 December, the Council of the European Union reached agreement on an €18 billion legislative package which will enable the EU to help Ukraine financially throughout 2023.

The aim of this emergency assistance is to provide short-term financial relief, financing Ukraine’s immediate needs, rehabilitation of critical infrastructure and initial support towards sustainable post-war reconstruction, with a view to supporting Ukraine on its path towards European integration.

The package provides a structural solution for financial support to Ukraine in 2023. The loans will have a 10-year grace period. The EU states will cover the bulk of the interest costs from external assigned revenues. The loans will be guaranteed either from the EU budget or by the member states.

The proposal adopted by the Council will be submitted to the European Parliament for its possible adoption this week.

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