The Commission proposes a battery of grants and loans to reduce the economic impact of the conflict with Russia
Europe will try to reinforce its economic aid to Ukraine in the face of military threats from Russia. This was announced this Monday by the president of the European Commission, Ursula von der Leyen, who has announced a new aid package for the country worth 1.2 billion euros. “It will be carried out through emergency loans and grants,” he detailed about a proposal that he hopes the Council and Parliament will approve “as soon as possible.”
Since Moscow’s annexation of Crimea in 2014, the EU has provided Kiev with “significant economic aid” to support the country’s resilience, boost its modernization and fight the Covid-19 pandemic. In this way, Europe has granted up to “17 billion euros in loans and subsidies,” explained Von der Leyen.
After a conversation with the Ukrainian president, Volodímir Zelenski, the Commission has proposed creating this first aid package and, as soon as it is approved, they will start working on a second batch of aid. “It is about combating the economic impact of the conflict with Russia in the short and medium term,” he pointed out. This second aid program has the objective of promoting the modernization of the country.
The Commission also wants to redouble bilateral assistance to Ukraine through grants, in which it will invest a further €120 million. In addition, Brussels seeks to continue investing in the future of the country through its Investment Plan, endowed with six billion euros in investments. “I want to be clear. Ukraine is a free and sovereign country. Make your own decisions and the EU will remain by your side.”