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The EU Council approved € 1.2 billion in assistance to Ukraine

21.02.2022

The EU will provide emergency macro-financial assistance of 1.2 billion euros in the form of loans to strengthen stability in Ukraine, according to the press service of the EU Council.

"The Council completed its adoption today, just 21 days after the commission submitted its proposal," the EU Council said in a statement on Monday.

 

It is noted that the EU has accelerated this economic assistance to Ukraine, as current geopolitical tensions are having a detrimental effect on Ukraine's economic and financial stability, and ongoing security threats have already led to significant capital flight.

 

Yes, the macro-financial assistance will last 12 months and will consist of two tranches.

 

As reported, on February 16, the European Parliament voted in favor of the European Commission's proposal to provide Ukraine with new macro-financial assistance of 1.2 billion euros.

 

The corresponding result of the vote was announced on Wednesday in Strasbourg at the plenary session of the European Parliament. 694 deputies voted, of which "for" - 598, "against" - 55, the rest abstained.

 

Further, macro-financial assistance is to be approved by the EU Council and subsequently published in the Official Journal.

 

Following: interfax.com.ua