The European Union will allocate € 1.2 billion to Ukraine due to the “threat of invasion” by Russia

EC head Ursula von der Leyen: EU will send €1.2 billion aid to Ukraine

The European Union will provide €1.2 billion to Ukraine because of the threat of an “invasion” of Russia, said the head of the European Commission, Ursula von der Leyhe. A fragment from her speech at the briefing published on Twitter.

“We discussed how the EU can continue to support Ukraine in the short and medium term.<...>. Today I am announcing a new financial assistance package for Ukraine, which consists of loans and grants. First, the European Commission is offering a new emergency macro-financial assistance of €1.2 billion. This package will help meet funding needs due to the conflict,” she said, adding that she hopes that the European Parliament and the Council of the EU will rather vote for the provision of the first tranche of €600 million.

After that, the EU will develop an additional funding program to support the country’s economic modernization program. Another €120 million will be allocated in the form of grants to Ukraine.

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