EU confirms intention to give Ukraine EUR 9B in macrofinancial aid

EU High Representative Josep Borrell announced this on Monday, during a press conference in Brussels following the EU Foreign Affairs Council, an Ukrinform correspondent reports.

“On the macroeconomic assistance, the Commission did announce EUR 9 billion. Now the Council has decided to disburse EUR 1 billion, and we continue to work to disburse another EUR 8 billion. I don’t have a date to give you now but it remains on our agenda and we will find a way to do it because we fully understand the macroeconomic difficulties that Ukraine faces, which are entirely normal – it’s a war,” Borrell told a press conference, answering a reporter’s question on the progress in providing macroeconomic assistance to Ukraine.

Speaking of Ukraine’s challenges, Borrell noted that the nation’s “revenue has collapsed, they had budget difficulties in times of peace – imagine the situation in times of war.”

The High Representative said the EU will provide macroeconomic assistance to “stabilize” Ukraine because “it is just as important as military aid.”