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EU Commission proposes 18-billion-euro Ukraine aid package
1.5 billion euros per month
09 November, 18:51 (ANSA-AFP) - BRUSSELS, NOV 9 - The European Commission on
Wednesday released details of an 18-billion-euro ($18-billion)
economic support package to get Ukraine through 2023, which it
hopes will be approved by EU member states. Under the plan, the
bloc would send Kyiv 1.5 billion euros per month in the form of
35-year loans, with interest payments covered by the European
Union, to support Ukraine's government in the face of the
Russian invasion. "We are presenting this new financial package
for Ukraine at a time of acute needs for the country, as
Russia's relentless attacks continue to batter key
infrastructure," said commission Vice President Valdis
Dombrovskis. "Our financial assistance must be stable,
structured and predictable." Ukrainian President Volodymyr
Zelensky took to social media to thank the commission and its
president, Ursula von der Leyen. "This shows true solidarity of
the EU," he said. The loan package will still have to be
approved by EU member states, some of which have been sceptical
about taking on responsibility for Ukraine's increasing debt,
but the European Commission hopes to make a first payment in
January. The bloc has already sent Ukraine 4.2 billion euros in
macro-financial assistance this year and plans to pay another
2.5 billion by the end of this month. But the International
Monetary Fund estimates that Kyiv will need between three
billion and four billion euros per month next year as it
struggles to maintain government services while fighting off a
Russian invasion that has occupied almost a fifth of its
territory. Brussels hopes that its contribution will be matched
by Washington and other major international donors to bring the
support to the required level. "We will ensure Ukraine emerges
from this war as a prosperous country, on the path to European
integration. We will stand by Ukraine for as long as it takes,"
von der Leyen said. (ANSA-AFP).
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