Ukraine to get additional $5bn credit from the European Union

Ukraine to get additional $5bn credit from the European Union

The European Union is planning to provide a further five billion euros ($4.9 billion) in aid for Ukraine, as Kiev continues to try and fight off the Russian invasion.

 

European Commission President Ursula von der Leyen announced this in a statement on Wednesday.

 

She said the European Commission proposed raising the sum in the capital markets, with interest and fees to be paid from the EU budget.

 

“Today, the Commission is coming forward with a proposal for a further five billion euros’ macro-financial assistance to support Ukraine in addressing its immediate financial needs caused by Russia’s brutal invasion.

 

“Ukraine must win this war: it must regain the freedom and independence it is so courageously fighting for.

 

“The EU will continue to do its part to make sure this happens; solidarity will prevail, and peace will come.” she said.

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