Ministry of Finance explained under what conditions Ukraine will receive €35 billion from the EU.
European Union offers Ukraine macro-financial assistance of 35 billion euros
President of the European Commission Ursula von der Leyen announced the European Union's proposal to provide Ukraine with a macro-financial assistance of 35 billion euros for the period of 2024-2025. This proposal is part of the G7 countries' initiative to use frozen Russian assets.
This credit has a special repayment mechanism, according to which the funds will be returned through future revenues from the frozen Russian assets in the EU.
To implement the plan, the European Union proposes to create a special loan cooperation mechanism with Ukraine - Ukraine Loan Cooperation Mechanism (ULCM), which will ensure the non-repayable nature of the funds provided to Ukraine.
The European Commission's proposal requires the approval of the European Parliament and the EU Council. In case of a positive decision, the funds could become available in the near future.
Plan to allocate Ukraine a $50 billion loan
Also, the leaders of the G7 countries developed a plan in June to allocate Ukraine a $50 billion loan. This loan is planned to be repaid through the profits from investing frozen Russian assets.
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