The European Commission has defended this Monday the macro-financial assistance sent so far to Ukraine, after pointing out that by the end of the year it will have disbursed 7,200 million, with another 3,000 million pending processing, which has generated criticism from Kiev that demands more agility to deliver the economic support.
At a press conference in the European capital, the Community spokesperson for the Economy, Veerle Nuyts, has detailed that Brussels has disbursed 3,000 million to date, in two tranches, to help Ukraine’s financial needs, while it made available to Kiev 1,200 million in emergency loans as soon as the war broke out.
Specifically, the first aid to the country came last August when 1 billion was completed in two tranches, while the second payment came in October, when the European Commission confirmed a further 2 billion of the initial 9 billion financial package announced in May.
«By the end of the year an additional 3 billion will be disbursed. So 6 billion of the 9 billion of the exceptional macro-financial assistance package will have been paid,» argued the spokeswoman, who, after noting the emergency financial assistance, concluded that Brussels will have released 7.2 billion by 2023.
Nuyts has underlined that the European Commission continues the work to define the disbursement of the remaining 3 billion of the initial support package, while in parallel it is looking for a «more strategic and predictive approach» to guarantee funds to Ukraine next year in the face of the continuation of the Russian aggression.
18 BILLION PACKAGE FOR 2023 These statements come after the President of the European Executive, Ursula von der Leyen, advanced this Sunday in a phone call with the Ukrainian President, Volodimir Zelenski, that she will raise this week a support package estimated at 18 billion for 2023, representing 1.5 billion per month, and around a third of Ukraine’s financial needs in the context of the war.
The program is intended to cover part of Ukraine’s needs next year and consists of a series of «long-term loans on highly concessional terms, with interest costs covered, which will also contribute to Ukraine’s reform program on its way to the country’s accession to the European Union.»
Brussels has faced criticism for the lack of speed in processing the aid, which always arrives several months after it is announced by EU leaders. Kiev has lamented the slow timelines for releasing funds, after the first aid of 1 billion arrived only in August, nor does it help that Von der Leyen and several members of the EU executive have repeatedly referred to the EU having supported Ukraine with 19 billion euros since the start of the war, a figure that, according to Brussels, accounts for support and budgetary contributions from the European Commission, its EU financial institutions and contributions from member states.
