18.05.2022 13:38 (akt 18.05.2022 13:38)
The EU Commission wants to help Ukraine with a loan of nine billion euros. © JOHN THYS / AFP
In the short term, the EU Commission wants to help Ukraine with up to nine billion euros.
The Brussels authorities announced on Wednesday that they would offer a loan for the year. EU countries should offer additional guarantees. The payment is planned in several installments, with long-term preferential interest rates. In the longer term, a reconstruction program is planned, with the EU likely to become the largest donor.
The EU wants to help Kyiv with a loan of nine billion euros
“Ukraine can count on the full support of the EU,” said Commission President Ursula von der Leyen. The Russian attack had devastated the country in recent months. The EU is playing a leading role in reconstruction. Investments would go hand in hand with reforms to bring Ukraine closer to Europe. According to the EU Commission, the focus should be more on the rule of law. The fight against corruption in the country should also be promoted.
It’s about keeping Ukraine and the state apparatus running
European Commission Vice-President Valdis Dombrovskis said the task now is to keep Ukraine and the state apparatus running. According to international estimates, this costs around 5 billion euros a month. The exact distribution of the short-term aid will also be the subject of a meeting of the finance ministers of the seven leading industrialized countries (G7) on Thursday and Friday in Bonn. According to its own statements, the federal government wants to put together a financial package totaling 15 billion euros.
International platform for the reconstruction of Ukraine
An international platform is to coordinate the long-term reconstruction of Ukraine. The Commission proposes a specific EU-funded instrument for the European contribution. During the corona pandemic, the EU launched a 750 billion euro recovery plan. However, the Federal Ministry of Finance, led by the FDP, is rejecting new joint borrowing in the EU.
The EU claims to have mobilized more than €4 billion for Ukraine since Russia attacked in late February. The country lost most of its tax revenues and exports as a result of the war.
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