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EU ministers agree on additional €5 billion assistance for Ukraine

EU finance ministers and Central Bank governors met with representatives of the European Commission and the ECB at the informal Ecofin Council meeting in Prague. The finance ministers discussed the impact of the Russian aggression in Ukraine on the European economies and supported the swift adoption of additional financial assistance to Ukraine amounting to €5 billion.

Ukraine flag in a heart
Photo Credit: Unsplash

Following the agreement in July to provide €1 billion, EU finance ministers in Prague agreed to accelerate the next tranche of macro-financial assistance to Ukraine in the amount of €5 billion.

The new loan of €5 billion will be used for the day-to-day running of the state and to ensure the operation of the country's critical infrastructure, such as offices, schools and hospitals. At the next Ecofin meetings, I will push for a swift agreement on the provision of the remaining three billion euros, for which we must also agree on the division of this amount into loans and grants. Zbyněk Stanjura, Minister of Finance of Czechia

This financial assistance, once adopted, will complement other EU support to Ukraine in the humanitarian, development, customs and defense fields.

During the debate on economic assistance to Ukraine, the finance ministers also discussed Ukraine's post-war reconstruction.

Source: News Room of Council of the EU

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