15:37 25.10.2022

European Commission needs special mechanism to provide Ukraine with regular financial assistance – von der Leyen

1 min read
European Commission needs special mechanism to provide Ukraine with regular financial assistance – von der Leyen

The European Union's financial assistance to Ukraine since the beginning of Russia's full-scale aggression against the country has reached $19 billion, including $7 billion in direct budget support, however the process of approving such assistance is still complicated and the issue should be tackled in order to ensure regular allocation of $1.5 billion per months in 2023, European Commission President Ursula von der Leyen has said.

"A mechanism of direct financial assistance to Ukraine should be developed for 2023," she said at a press conference within the framework of the International Expert Conference on the Recovery, Reconstruction and Modernization of Ukraine in Berlin on Tuesday.

The President of the European Commission said that the monthly financing needs of the budget of Ukraine in 2023 amount to $3-5 billion. According to her, about one third of them should be generated by the EU, the United States and international financial institutions.

At the same time, von der Leyen said that the EU can rely on the United States in this regard.

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