Ukraine receives final tranche of EU financial aid worth €18 billion
European Commission President Ursula von der Leyen (Getty Images)
The European Commission has transferred the last tranche of €1.5 billion from the macro-financial assistance package to Ukraine. In total, Kyiv will receive €18 billion in long-term concessional loans in 2023, according to European Commission President Ursula von der Leyen.
The European Commission President emphasizes the need to reach an agreement to continue to provide Ukraine with the support it needs for recovery and reform.
Today we disburse the last €1.5 billion of our €18 billion 2023 support package to Ukraine.
— Ursula von der Leyen (@vonderleyen) December 21, 2023
We must find an agreement to keep providing Ukraine with the support it needs to recover, rebuild and reform.
We stand by the side of our neighbour, friend and aspiring member. pic.twitter.com/hMXKIGJ2aR
"We stand by the side of our neighbor, friend, and aspiring member," she adds.
Assistance to Ukraine
Earlier, the European Commission proposed to allocate €50 billion to Ukraine for 2024-2027. EU leaders considered this initiative during the summit on December 14. However, Hungary vetoed the decision, while the other 26 countries supported it.
The issue of assistance to Ukraine will be discussed at a separate EU summit in early February. One of the options is bilateral agreements between Ukraine and EU members for the appropriate amounts.
Hungarian Prime Minister Viktor Orban said today that his position has not changed. The Hungarian government continues to oppose joint EU assistance through the bloc's budget. Any assistance to Ukraine should be provided for a shorter period than the current proposal, Orban said, adding that this issue should be considered separately from the dispute over EU funding for Hungary.
As of December 20, Ukraine has already received $39 billion in external financing since the beginning of 2023. By the end of this year, donor assistance will reach about $42.3 billion.
At the same time, the need for external financing for 2024 has been reduced from $41 billion to $37.3 billion due to measures to maximize state budget revenues, activate the domestic debt market and other measures.
