Members of the European Parliament gave the green light to a €5 billion macro-financial loan. This money will help Ukraine cover its acute financing needs caused by Russia’s invasion, the European Parliament website says.
The Commission is extending the loan to the government in Kyiv on highly favorable terms, the EP says.
According to the International Monetary Fund, Ukraine has a $10 billion (€9.8 billion) funding gap.
A precondition for granting assistance is that Ukraine respects effective democratic mechanisms despite the wartime concentration of power in the executive branch.
The EP website emphasized that the precondition for granting assistance is that Ukraine respects effective democratic mechanisms despite the wartime concentration of power in the executive branch.
The provision of support passed with 534 votes in favour, 30 against and 26 abstentions.
The loan will come into effect on the day following its publication in the Official Journal of the EU.
This is the second, and the largest, tranche of a €9 billion EU support package, of which €1 has already been disbursed.