The European Commission decided today to reinforce its support for Ukraine by proposing a comprehensive financial assistance package, consisting of a Ukraine Loan Cooperation Mechanism of up to €45 billion Euros, and an exceptional Macro-Financial Assistance (MFA) loan of up to €35 billion Euros.
European Commission President Ursula von der Leyen announced the package at a joint press conference with Ukrainian President Volodymyr Zelenskyy in Kyiv, Ukraine, saying that “relentless Russian attacks mean Ukraine needs continued EU support.”
“This is a huge step forward. We are now confident that we can deliver this loan to Ukraine very quickly. A loan that is backed by the windfall profits from immobilised Russian assets,” von der Leyen said. “So, crucially, this loan will flow straight into your national budget.
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