EU Council approves 5 billion euros in financial aid for Ukraine

The  Council of the European Union on Tuesday officially adopted a decision on the allocation of additional macro-financial assistance to Ukraine in the amount of 5 billion euros, -the body press release said. 

“The EU stands by Ukraine. We are keeping our promises and helping to ensure that the Ukrainian state and its basic infrastructure continue to function despite Russia’s aggressive war. At the next meetings of the Council of Economic and Financial Affairs, I will put forward an initiative to reach a quick agreement on the allocation of the remaining three billion euros”, said Zbyněk Stanjura, Minister for Finance of the Czech Republic and President of Economic and Financial Affairs Council. 

The Council of the European Union has explained that the said macro-financial aid of five billion euros would be given to Ukraine in the form of preferential long-term loans. It is part of a €9 billion bailout package announced by the European Commission in May and approved by the European Council on June 23-24.

The said financial assistance will be distributed in the fields of humanitarian, economic development, customs and defense.