€50 billion financial aid package from EU to Ukraine - Ursula von der Leyen
Ursula von der Leyen, President of the European Commission (Getty Images)
The European Union has announced a financial aid package of approximately 50 billion euros to support Ukraine, according to European Commission President Ursula von der Leyen's Twitter post.
"We propose a facility for Ukraine for the next 4 years of up to €50 billion," she wrote.
Von der Leyen clarified that this will enable "predictable finance to Ukraine on its EU path, together with global partners and private sector."
EU's 50 billion euro aid to Ukraine
Ukrainian President Volodymyr Zelenskyy held a phone conversation with European Commission President Ursula von der Leyen on June 19. The discussion revolved around further financial support for Ukraine and the issue of the EU's adoption of the 11th package of sanctions against Russia.
On June 20, it was announced that the European Union is ready to offer a financial aid package of approximately 50 billion euros to support Ukraine.
According to Bloomberg, the assistance will be provided in the form of grants, concessional loans, and guarantees over a span of four years — from 2024 to 2027. However, the annual aid amount will be lower than the 18 billion euros that the EU is proposing this year.
