(Source: European Commission)
“Check against delivery”
Last Friday, I spoke with President Zelenskyy to assess the situation in Ukraine created by Russia’s aggressive actions. We discussed how the EU could continue to support Ukraine, both in the immediate and medium term. As ever, the EU stands by Ukraine in these difficult circumstances. We are firm in our resolve. The EU has already provided significant assistance to Ukraine, both to support the country’s resilience and modernisation, and specifically to fight the COVID-19 pandemic. Since 2014, the EU and European financial institutions have allocated over EUR 17 billion in grants and loans to the country.
Today, I am announcing a new financial assistance package to the country made of both emergency loans and grants. First, the Commission proposes a new emergency macro-financial assistance package (MFA) of EUR 1.2 billion. This package will help Ukraine now to address its financing needs due to the conflict. We count on the Council and the European Parliament to adopt this emergency MFA as soon as possible. We will then proceed to the rapid disbursement of a first tranche of EUR 600 million. Moreover, we will soon start work on a second, longer-term MFA programme to support the country’s modernisation efforts. Second, the Commission will almost double its bilateral assistance to Ukraine in grants this year: Another EUR 120 million will be allocated. This support will strengthen Ukraine’s state-building and resilience efforts.
On top of this, we will continue to invest in the country’s future, thanks to our Investment Plan for the country. This plan aims to leverage over EUR 6 billion in investments. Let me be clear once more: Ukraine is a free and sovereign country. It makes its own choices. The EU will continue to stand by its side.