Romania to allocate EUR 50M under EU program subsidizing Ukraine’s debt

That’s according to Romania Insider, Ukrinform reports.

“Given Ukraine's difficult situation, the European Union provides additional support from the member states by covering the interest rate costs. The interest subsidy will be borne by the member states through additional voluntary contributions," the Romanian government’s resolution says.

It is noted that the EUR 50 million will come from Romania’s state budget and will be sent over between 2024-2027, averaging EUR 12.3 million per year.

As reported, in December 2022, the European Union agreed on the macro-financial assistance of up to EUR 18 billion for Ukraine for 2023, which will be provided in the form of loans, while guarantees and interest on these loans will be provided by the EU budget and member states.

Guarantees for borrowings on the external capital market will be provided from the reserve funds of the European budget.

National contributions were calculated based on the share of each member state in the total gross national income of the European Union.

Photo: Radu Dumitrescu