Please select To the mobile version | Continue to access the desktop computer version

Discuz.uk

 Forgot password?
 Register
Search
View: 1163|Reply: 0

EU Proposes Up to $9.5 Billion in Funding for Ukraine for 2022

[Copy link]

11

Threads

11

Posts

47

Credits

Administrator

Rank: 9Rank: 9Rank: 9

Credits
47
Post time 2022-05-19 20:33:46 | Show all posts |Read mode
European Commission President Ursula von der Leyen spoke about Ukraine in Brussels on Wednesday.JOHN THYS/AGENCE FRANCE-PRESSE/GETTY IMAGES


The European Union’s executive agency proposed to provide up to 9 billion euros, equivalent to $9.5 billion, to help Ukraine pay its bills through the rest of 2022, European Commission President Ursula von der Leyen said Wednesday. The proposal follows U.S. plans to provide $8.5 billion in immediate short-term aid.

Wednesday's proposal will need to be approved by EU member states and the European Parliament. The International Monetary Fund has estimated Ukraine needs around $5 billion a month in assistance to keep the country running.

Ukraine’s government expects the economy to contract by around 45% this year.

The EU money would likely come through a long-term, low-interest loan. The EU will also issue some grants to Ukraine subsidizing the interest rates, European Trade Commissioner Valdis Dombrovskis said Wednesday.

As well as taking several million Ukrainians into the bloc and providing up to 2 billion euros in military assistance, the EU has given humanitarian assistance to people arriving in the bloc and to people who stayed home, spending 4.1 billion euros in total since the war began.

Correction: The IMF has estimated Ukraine needs around $5 billion a month in assistance to keep the country running. An earlier version of this post incorrectly stated that the IMF had agreed to a $5 billion loan for Ukraine.




This post contains more resources

You have to Login for download or view attachment(s). No Account? Register

x
Reply

Use magic Report

You have to log in before you can reply Login | Register

Points Rules

Archiver|Mobile|Dark room|DiscuzX

2024-03-29 05:40 GMT+8 , Processed in 0.077114 second(s), 19 queries .

Powered by Discuz! X3.4

Copyright © 2001-2021, Tencent Cloud.

Quick Reply To Top Return to the list