Brussels, Jan 16 (EFE).- The European Union signed an agreement Monday to send a macro-financial aid package to Ukraine worth 18 billion euro ($19.5 billion) throughout 2023.
“Honored to sign MoU (memorandum of understanding) on behalf of the EU to provide Ukraine with financing in 2023 – up to 18 bln in loans,” European Commission’s executive vice-president Valdis Dombrovskis said on Twitter.
The war-torn country expects to receive the first 3 billion euro payout later this week, according to Dombrovskis.
The agreement was signed by Dombrovskis, Ukrainian finance minister Sergii Marchenko and the head of the National Bank of Ukraine.
“This will help Ukraine cover its pressing needs – with a stable flow of payments throughout the year,” Dombrovskis added.
Marchenko said in a Twitter post that the funds would “help cover urgent budget needs in 2023.”
“Grateful to (EU) for providing (Ukraine) predictable and timely assistance,” he continued.
The support package was pledged by the EU late last year, after European Commission president Ursula von der Leyen had said in October that the EU was willing to explore the possibility of providing Ukraine with 1.5 billion euro per month (which amounts to 18 billion over 12 months), even though Kyiv had asked for monthly installments of between 3 and 4 billion euro. EFE