European Commission proposes €50 billion facility for Ukraine for the next four years

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According to Ursula von der Leyen, this will provide predictable finance to Ukraine on its EU path and to the EU budget dealing “with crisis after crisis”.

The reserve will include both loans and grants. It is also expected to encourage donors other than the EU to step up.

“This financial reserve will allow us to really calibrate our financial support according to the evolution of the situation on the ground, because we all know that a war requires at most flexibility from us,” said von der Leyen.

Ursula von der Leyen’s speech (video)

She added that since the beginning of the Russian full-scale war against Ukraine, the country has received €30 billion directly from the EU budget.

Source – EU Neighbourhood East