Ursula von der Leyen announced a new emergency assistance of EUR 1.2 billion to Ukraine, to address its financial needs arising out of conflict with Russia
The President of European Commission – Ursula von der Leyen today, i.e., Monday, January 24, 2022, announced a new emergency Macro-Financial Assistance (MFA) of EUR 1.2 billion to Ukraine, to address its financial needs arising out of conflict with Russia.
Ursula said she is counting on the European Council, grouping E.U. Governments, and E.U. lawmakers to approve the emergency support as soon as possible in order to rapidly disburse a first tranche of EUR 600 million.
She had a word with the President of Ukraine – Volodymyr Zelensky and assessed the situation in Ukraine. They discussed how European Union (E.U.) could continue to support Ukraine, both in the immediate and medium term.
Russia has placed 120,000 soldiers across its borders with Ukraine. There are reports Russia will invade Ukraine by January 31, 2022. However, the President of Russia – Vladimir Putin has denied the allegations. Russia has also said it does not want North Atlantic Treaty Organisation (NATO) to grant membership to Ukraine, a proposal which has been outrightly rejected by the United States (U.S.), E.U. and United Kingdom (U.K.) and other NATO members.
In a series of tweets, Ursula tweeted,
The EU stands by Ukraine. We are firm in our resolve.
— Ursula von der Leyen (@vonderleyen) January 24, 2022
I am announcing a new financial assistance package, made of emergency loans and grants, to support Ukraine in the medium and long-term. https://t.co/0PfKt4wtKP
She further tweeted,
It will help Ukraine now, to address financing needs due to the conflict & support the country’s resilience-building efforts.⁰
— Ursula von der Leyen (@vonderleyen) January 24, 2022
It consists of:
1. New macro-financial assistance package of €1.2 billion
2. Doubling of bilateral assistance this year, with another €120 million pic.twitter.com/N6lzD6Izj8
Ursula said that E.U. will soon start work on a second, longer-term MFA programme to support the country’s modernisation efforts. The European Commission will almost double its bilateral assistance to Ukraine in grants this year with another EUR 120 million being allocated. This funding is to support and strengthen Ukraine’s state-building and resilience efforts.
Besides, E.U. will continue to invest in the country’s future. It will leverage over EUR 6 billion in investments. The E.U. has already provided significant assistance to Ukraine, both to support the country’s resilience and modernisation, and to fight the Coronavirus (COVID-19). Since 2014, the E.U. and European financial institutions have allocated over EUR 17 billion in grants and loans to the country.
Ursula has also called on international partners such as the International Monetary Fund (IMF) to follow the same approach and renew their engagement with Ukraine.
