EU Council adopts €1.2 billion assistance to Ukraine

In the decision taken within the scope of the European Union (EU) Foreign Ministers Meeting, it was announced that the EU will provide €1.2 billion of financial assistance as a loan to promote stability in Ukraine and increase Ukraine's resilience.

"The EU will provide an emergency macro-financial assistance operation of €1.2 billion in the form of loans to foster stability in Ukraine. It intends to provide swift support in a situation of acute crisis and to strengthen Ukraine's resilience. The Council finalized the adoption today, only 21 days after the Commission presented its proposal. The EU fast-tracked this economic assistance to Ukraine, as the current geopolitical tensions are having a detrimental effect on Ukraine's economic and financial stability. Persistent security threats have already triggered a substantial outflow of capital. Ukraine is losing access to international capital markets due to the heightened geopolitical uncertainty and its impact on the economic situation" said the written statement published on EU Council.