EU to provide stable funding for Ukraine over next year - von der Leyen

By the end of the year, the European Union will have transferred to Ukraine a tranche of macro-financial assistance in the amount of EUR 9 billion, but EU leaders are already considering how to ensure, together with American partners and international financial institutions, stable monthly financing of Ukraine's basic needs in the amount of EUR 3-4 billion.

That’s according to European Commission President Ursula von der Leyen, who spoke at a press conference following the second day of the European Council’s work, an Ukrinform correspondent reports.

Since the beginning of the year, the EU’s support for Ukraine has amounted to EUR 19 billion, the official noted. But the discussion was more focused on next year, as it is critical for Ukraine to have a predictable, reliable, and stable financial inflow, said Ursula von der Leyen.

According to the assessment by the European side, as well as according to the information received from the government of Ukraine, next year the country will need EUR 3 billion to EUR 4 billion per month to cover basic needs. This amount, according to the President of the European Commission, will be jointly financed by the European Union, its partners and friends in the USA, as well as international financial institutions.

Therefore the discussion touched on the allocation of EUR 1.5 billion euros per month for Ukraine, which will be financed by the European Union. In total, this amounts to EUR 18 billion over the next year.

As already reported, on October 20-21, a two-day meeting of the heads of state and government of the European Union was held in Brussels, which was dedicated to finding solutions for the current energy crisis, which was provoked by Russia’s actions.

In the international bloc, EU leaders also reviewed the situation in Ukraine and confirmed their readiness to continue supporting it in its fight against the Russian invasion.