The European Union is preparing a new financial assistance package for Ukraine in the amount of about 50 billion euros. These funds will help finance the current expenses of the Cabinet of Ministers and cover the urgent restoration of priority facilities. The influential edition of Bloomberg writes about this, citing sources.
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The prepared proposal of the European Commission for the financial aid package is part of the revision of the long-term budget of the EU and will cover the period from 2024 to 2027. The money will be paid on the condition that Kyiv will carry out reforms to improve the rule of law and fight corruption. It is expected to be announced on June 20 at the Ukraine Reconstruction Conference in London.
Bloomberg sources, who spoke on condition of anonymity, said the European Commission would offer assistance in the form of grants, soft loans and guarantees to avoid burdensome recovery tools.
Unlike previous financial packages for Ukraine, this one will be funded by contributions from EU member states, rather than borrowing from the markets. At the same time, the EU expects help from the private sector and other donors.
We will remind, earlier the Financial Times wrote that the EU is working on a four-year financing plan for Ukraine in the amount of tens of billions of euros. Proposals for the plan are still being developed, but they could be ready on the eve of the conference on the restoration of Ukraine on June 21-22.
Source: Racurs
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