EU countries have reached an agreement to provide Ukraine with 18 billion euros

The Council of the EU reached an agreement on a package of legislative acts that will allow providing financial assistance to Ukraine during 2023 in the amount of 18 billion euros.

This was announced by the press service of the Council of the EU.

“The proposal was adopted by the Council of the EU today through a written procedure and will be submitted to the European Parliament for possible adoption next week,” the message reads.

It is known that the aid package provides for structural decisions regarding financial support for Ukraine in 2023. The amount of the loan that will be provided to Ukraine in 2023 will make 18 billion euros. The loans will have a 10-year grace period.

“The goal is to provide short-term financial assistance, finance Ukraine’s urgent needs, restore critical infrastructure and initial support for sustainable post-war recovery in order to support Ukraine on its path to European integration,” the press service of the Council of the EU emphasized.

The EU member states will cover the bulk of the interest costs with external assigned revenues. Guarantees for this borrowing will be provided either from the EU budget or by the member states.

“Ukraine can count on the EU. We will continue to support Ukraine, including financially, as long as necessary. The legislation we passed today means that Ukraine can count on regular financial assistance from the EU throughout 2023,” he said Minister of Finance of the Czech Republic Zbynek Stanyura.

On November 24, the European Parliament voted to provide Ukraine with macro-financial assistance in the amount of 18 billion euros. Prior to that, Hungarian President Viktor Orbán opposed the European Commission’s plan to provide aid to Ukraine in the amount of 18 billion euros for 2023 and offered an alternative in the form of bilateral agreements.