International

EU offers Ukraine 50 billion euros through 2027

The European Union will provide Ukraine with 50 billion euros ($54.58 billion) in aid for 2024-27, the bloc's president said on Tuesday, ahead of a gathering in London to secure short-term financing and money to rebuild the nation from Russia's war, Reuters reports.

ecopresa.md
Sursa: ecopresa.md

Ukraine is seeking up to $40 billion for the first part of a "Green Marshall Plan" for reconstruction from the London conference starting on Wednesday. The World Bank estimates its needs at more than $400 billion over a decade, three times Ukraine's GDP. European Commission President Ursula von der Leyen said the aim was to "provide predictable finance to Ukraine on its EU path, together with global partners and the private sector."

In a symbolic move, the EU granted Ukraine formal membership candidate status last year. Sources said the EU will say in a report this week that Ukraine has met two out of seven conditions for formal accession talks to begin. It will also highlight progress made despite the invasion in February, 2022.

Of Tuesday's aid pledge, 17 billion euros would come in free grants and the rest in the form of low-interest loans, said Johannes Hahn, commissioner for budget and administration.

For 2023, the EU granted Ukraine 18 billion euros in macro-financial assistance.

Ukraine's Prime Minister Denys Shmyhal thanked the EU for a "steadfast commitment to supporting Ukraine on our path towards EU membership."

Valeria Văcărescu

Valeria Văcărescu

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