The EU Council has approved a €35 billion macro-financial aid package for Ukraine.
The EU Council has approved macro-financial assistance for Ukraine amounting to 35 billion euros. This was reported by the European Union Council, as conveyed by UNN.
Details
The EU Council announced the agreement on a financial assistance package for Ukraine, which includes an exceptional macro-financial loan of up to 35 billion euros. This package also introduces a new lending mechanism aimed at helping Ukraine meet its obligations to G7 countries.
The financial support is intended to urgently address Ukraine's increasing funding needs amidst escalating Russian aggression. Under the "Emergency Loans for Ukraine Acceleration" initiative, the repayment of the exceptional loan and bilateral loans will be secured through revenues generated from frozen Russian assets.
The loan mechanism will allocate funds that may include voluntary contributions from EU member states and third countries to assist Ukraine in servicing and repaying the loans.