The European Union is making plans to provide Ukraine with 1.5 billion euros (1.46 billion US dollars) in monthly economic aid in the coming year, European Commission President Ursula von der Leyen announced Friday after a 27-nation summit.
“The total number of this will be 18 billion for next year, which is a stable and reliable forecast,” said von der Leyen. in a conference in Brussels on Friday, adding: “We have tasked finance ministers to develop the appropriate mechanism.”
The Ukrainian economy was destroyed eight months after the Russian attack and Kiev estimates that the government needs monthly funding of between 3 and 4 billion euros, according to Agence France-Presse.
Von der Leyen said that the European Union, the United States and international financial institutions should guarantee this funding, adding: “It is important to send a signal to Ukraine”.
European countries have asked the Commission to accelerate the allocation of € 3 billion, which is the remaining amount of a € 9 billion aid package for 2022, previously announced in May. This financial assistance takes the form of long-term subsidized loans.
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