18:10 13.07.2022

Discussions on providing macro-financial aid to Ukraine up to EUR 9 bln taken longer than usual, but EU to deliver on promises including this – ambassador

3 min read
Discussions on providing macro-financial aid to Ukraine up to EUR 9 bln taken longer than usual, but EU to deliver on promises including this – ambassador

Discussions on providing Ukraine with additional macro-financial assistance in the form of loans of up to EUR 9 billion have lasted longer than in some cases, but the EU will fulfill its promises, including this, EU Ambassador, Head of the EU Delegation to Ukraine Matti Maasikas has said.

"The European Commission in May proposed granting Ukraine additional macro-financial assistance in the form of loans of up to EUR 9 billion still in 2022. Normally the Commission only puts forward a proposal and these are the member states who collectively take the decision consulting the European parliament and other bilateral and multilateral international partners, including the G7. And the truth is that these discussions have taken longer than in some previous cases. But I am 100% sure that the EU will deliver on its promises including on this one," Maasikas told Interfax-Ukraine.

He said that since the Russian aggression started, the EU has mobilised around €4.1 billion to support Ukraine's overall economic, social and financial resilience in the form of macro-financial assistance, budget support, emergency assistance, crisis response and humanitarian aid. Military assistance measures have also been provided under the European Peace Facility, amounting to a total of EUR 2 billion, that will be used to reimburse Member States for their in-kind military support to Ukraine, Maasikas said.

"Between March and May 2022, EUR 1.2 billion in macro-financial assistance have been disbursed to Ukraine. The EU is also providing additional grant support of EUR 120 million to help state and resilience building. Some EUR 348 million has been made available for humanitarian aid projects to help civilians affected by the war in Ukraine. This includes EUR 335 million for Ukraine and EUR 13 million for Moldova respectively, to provide assistance to people fleeing the aggression. This EU humanitarian aid provides food, water, healthcare, shelter and helps cover people's basic needs," the diplomat said.

In addition, according to Maasikas, all EU projects in Ukraine have been repurposed to support Ukraine's resilience.

"As for the EU's normal assistance we, at the Delegation, have a portfolio of EUR 250 million yearly – all EU projects. They all have been allowed to repurpose to support Ukraine's resilience. Take the EU's flagship program EU anticorruption initiative (EUACI). People who before February 24 had been fighting corrupt judges in March were purchasing bullet-proof vests and helmets for the same judges in order to help Ukraine's resilience," he said.

AD
AD
AD
AD