Ukraine receives €5.9 billion from EU to maintain financial stability amid war
Photo: Yuliia Svyrydenko (Getty Images)
Ukraine has received €5.9 billion from the European Union, which is expected to help preserve the country’s macroeconomic stability amid the challenges of war, according to Ukrainian Prime Minister Yuliia Svyrydenko.
It is noted that the new tranche of economic assistance came from two sources:
-
€4.1 billion under the ERA Loans mechanism — the final tranche within the €18 billion program financed from profits generated by frozen Russian assets. This is an example of how the Russian Federation is beginning to pay for its crimes.
-
€1.8 billion under the Ukraine Facility. This confirms that Ukraine is confidently moving along the path of reforms and European integration.
"Both decisions are the result of a strategic partnership and trust between Ukraine and the EU. I am grateful to European Commission President Ursula von der Leyen, European Commissioners Valdis Dombrovskis and Marta Kos for their leadership and unwavering support for Ukraine," Svyrydenko emphasized.
According to her, these funds should help preserve macroeconomic stability even amid the challenges of war, the largest in Europe since World War II.
"These funds are about saved lives, restored infrastructure, and a strengthened economy. It means that we can direct more domestic resources toward what matters most — defense. Europe stands with Ukraine. The aggressor will definitely pay. Justice will prevail,: the Prime Minister added.
Earlier this morning, on November 13, European Commission President Ursula von der Leyen announced that Ukraine would receive a new tranche from the European Union amounting to almost €6 billion, sourced from the revenues of frozen Russian assets.
Meanwhile, the European Commission is also working on a new plan of financial assistance for Ukraine, the details of which are expected to be announced soon.
