European Commission proposes €18 billion in aid to Ukraine next year

German Chancellor Olaf Scholz, right, welcomes European Commission President Ursula von der Leyen, left, for the 'Western Balkans' conference at the Chancellery in Berlin, Germany, Thursday, Nov. 3, 2022. (AP Photo/Michele Tantussi)
By Dénes Albert
2 Min Read

The European Commission is proposing a financial assistance package of €1.5 billion per month, up to a maximum of €18 billion, to cover Ukraine’s financing needs in 2023, European Commission President Ursula von der Leyen said on Sunday.

Presenting details of a telephone conversation between von der Leyen and Ukrainian President Volodymyr Zelensky on Sunday, the EU executive said financial support for Ukraine is essential to ensure predictable and regular financing of the state’s tasks.

The Commission said the assistance, in the form of highly concessional long-term loans, would not only cover interest costs but also help Ukraine’s reforms and its path towards EU membership.

The EU’s financial package should be complemented by support from other donors, the Commission’s statement said.

A proposal for the aid package will be presented by the EU Commission as early as next week.

During the phone call, von der Leyen confirmed the EU would continue to provide immediate humanitarian assistance to Ukraine, especially during the winter. She also reiterated the EU’s pledge to support Ukraine for as long as the war-torn country needs it.

The two leaders also agreed on the importance of maintaining Ukraine’s grain exports and on supporting UN efforts to restore the security corridor for grain transport under the Black Sea Initiative. They agreed on the need to tighten EU sanctions against Russia and exchanged views on how the EU should respond to Iran’s negative role in supporting Russian aggression in Ukraine, the European Commission said.

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