Russian Invasion: EU sends €1 billion in financial aid to Ukraine
The European Union is to send Ukraine €1 billion ($1 billion) in loans as financial aid to shore up the country’s state amid the Russian invasion, EU finance ministers agreed on Tuesday.
“This will give Ukraine the necessary funds to cover urgent needs and ensure the operation of critical infrastructure,” Czech Finance Minister Zbyněk Stanjura said in a statement.
A meeting of EU finance ministers in Brussels chaired by Mr Stanjura gave the green light to the financial package.
The loans are part of European Commission proposals from May to provide up to €9 billion in financial aid until the end of the year to Ukraine amid Russia’s invasion.
The €1 billion agreed on Tuesday will help the Ukrainian state meet general costs like paying wages and keeping hospitals and schools open, among other things.
The latest financial aid package – issued as a long-term loan on favourable terms – brings the total economic assistance to Ukraine to €2.2 billion, excluding military and humanitarian aid support.
In February, just days before Russia attacked Ukraine, the EU agreed to issue Ukraine €1.2 billion in loans as macro-financial assistance.
European Commission President Ursula von der Leyen said on Twitter that the financial support could reach Ukraine before the end of July.
(dpa NAN)
We have recently deactivated our website's comment provider in favour of other channels of distribution and commentary. We encourage you to join the conversation on our stories via our Facebook, Twitter and other social media pages.
More from Peoples Gazette
Agriculture
FG tasks ECOWAS on leveraging financing strategies for agroecology
The federal government has urged stakeholders in the agriculture and finance sectors in the West Africa region to leverage financing strategies to enhance agroecology practices
Politics
Katsina youths pledge to deliver over 2 million votes to Atiku
“Katsina State is Atiku’s political base because it is his second home.”
Economy
CIBN projects 26.5% monetary policy rate retention
Mr Alabi said the expectation was based on the CBN’s inflation-targeting monetary policy framework and recent economic developments.
Hot news Home top
Police nab fake pastor, accomplice for allegedly stealing newborn baby in Niger
The suspect lured a nursing mother and her 4-week-old baby to the Kasuwan-Gwari Area.
Heading 4
Poor leadership, corruption affecting Nigeria’s power sector, says ex-TCN boss
He advocated the appointment of competent professionals based on merit rather than political considerations.
Heading 5
Several injured as 18-seater bus rams into market in Kwara
The injured were taken to a nearby hospital for emergency medical treatment.
Agriculture
Stakeholders seek plant-based protein policies to boost food security
She said plant-based proteins were critical to building sustainable food systems.
States
Edo security squad nabs 12 suspected cultists in Benin
He said the suspects had been handed over to the police for further investigation.
