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European Commission announces plan to provide EUR 18 billion aid to Ukraine in 2023

Ukraine will receive EUR 1.5 billion monthly.

European Commission announces plan to provide EUR 18 billion aid to Ukraine in 2023
Valdis Dombrovskis
Photo: Denys Shmyhal Tg-channel

On Wednesday, 9 November, the European Commission announced a plan to provide Ukraine with regular macro-financial assistance in the amount of up to EUR 1.5 billion per month. The total amount of assistance is 18 billion euros, Vice President of the European Commission Valdis Dombrovskis said on Twitter.

"Today, we are creating a new funding instrument to provide stable and predictable financing to Ukraine in 2023," the message reads.

Dombrovskis added that the financing instrument will consist of long-term loans "on highly favourable terms of up to €18 billion, as part of our unwavering support for Ukraine."

Hungary has told EU finance ministers at a meeting in Brussels that it will not support the necessary changes to prepare an €18 billion aid package for Ukraine next year.

Since the beginning of the full-scale Russian invasion, Ukraine has received UAH 752,284 million of international financial support.

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