3 minutes agoThe EU promises another 18 billion euros for Ukraine, first aid “forgotten”
Periskopi(4 years ago)
(4 years ago)In an effort to help Ukraine cover the growing gap in its government budget, the European Commission has discovered a new package of 18 billion euros in financial aid that will be available in 2023, Euronews writes. So far, only 3 billion euros have been sent to Kiev, while 2.5 billion [...]
So far, only 3 billion euros have been sent to Kiev, while another 2.5 billion euros are expected to be issued by the end of the month and a further 0.5 billion euros planned for next month.
The remaining 3 billion euros, however, appear to have been left in a oblivion, with no solution to the horizon. Since the bloc never signed the last tranche, it is not legally obliged to release it.
“Of course, it would be much better to be able to pay the entire package,” said European Commission Executive Vice President Valdis Dombrovskis.
Brussels now intends to focus on the new 18 billion-euro package for 1923, which will reach 1.5 billion euros a month to help Ukraine cover its budget deficit.
Most importantly, the Commission will require two co-laws -- European Parliament and the EU Council -- to approve the fund. The first payment is expected at the end of January, and then three-month editions will follow.
EU funds will be used to support basic public services and repair critical infrastructure. To unblock money, Ukraine will be required to carry out reforms regarding rule of law, corruption and fraud. Responding to the news, President Zelensky expressed his gratitude.
This shows the true solidarity of the EU. Together we resist Russia's aggression, together we will rebuild Ukraine, together we will be in the EU”, Zelensky wrote on Twitter.
