The European Commission Comes to the Aid of Ukraine with 1.2 Billion

The European Commission Comes to the Aid of Ukraine with 1.2 Billion

The European Commission wants to help Ukraine with 1.2 billion euros. The country needs money, and borrowing, for example, is more complex and expensive now that Russia uses threatening language and has sent a large force to the border.

 

“The commission is announcing a new financial aid package, which includes loans and gifts,” said chairman Ursula von der Leyen. “This package will help Ukraine meet its financial needs as a result of the conflict.” Von der Leyen “counts on” getting the approval of the EU countries and the European Parliament as soon as possible and then immediately wants to transfer an initial 600 million euros to Kyiv.

The commission will provide Ukraine with a further EUR 120 million this year to help the country strengthen its government apparatus and become more resilient. The EU’s executive board also wants to start a longer-term support program soon so that Ukraine can modernize more easily. Brussels also wants to assist in attracting foreign investment worth 6 billion.

“Let me be clear again,” said von der Leyen. “Ukraine is a free and sovereign country and makes its own choices.”

Last year, the European Court of Auditors ruled sharply about European support for, for example, the reform of the judiciary in Ukraine and the fight against corruption. The committee chairman’s spokesman acknowledges that there is still a lot to be done in Ukraine, but “there is now an acute need” to be alleviated.

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