The European Commission’s proposal to provide 50 billion euros is not appealed by any of the EU countries, Johannes Hahn said.
EU countries have agreed to the European Commission’s proposal to support Ukraine with loans and grants worth 50 billion euros over the next four years. European Budget Commissioner Johannes Hahn said this, Sky News reported on Thursday, November 30.
EU governments are said to be negotiating a review of the bloc’s long-term budget after the Commission proposed that member states allocate additional funds to the general budget, much of it for Ukraine.
“The main thing is support for Ukraine. No one refused it, even in scale,” said Johannes Hahn.
We remind you that on October 17, the European Parliament supported the initiative of the European Commission to create the Ukraine Facility Fund for 50 billion euros for 2024-2027.
The Ukraine Facility provides loans totaling 39 billion euros for a period of up to 35 years with a grace period until 2034. Another 8 billion euros are grants within the Ukrainian Investment Framework, the This funding will come through microfinance organizations.
In addition, the program provides 2.5 billion euros for grants, technical assistance and other support measures, incl. covering interest on loans for 39 billion euros (approximately 1-1.5 billion euros), funding the work to bring the Russian Federation to justice, as well as about 500 million euros for the administration of the Facility’s program Ukraine itself.
As reported, the European Union has already provided Ukraine with various aid worth 81 billion euros since the beginning of Russia’s full-scale invasion. By 2023, EU financial aid for Ukraine alone will reach 16.5 billion euros.
Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.