European Parliament approved €1 billion of macro-financial assistance to Ukraine
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The European Parliament approved the allocation of 1 billion euros of macro-financial assistance to Ukraine to support it due to the war
It is reported by European Pravda.
As noted, the parliament supported the European Commission's proposal to allocate an additional loan to Ukraine on favorable terms, in addition to the 1.2 billion euros transferred in March and May.
This amount is the first tranche of the exceptional macro-financial assistance package of 9 billion euros.
The loan is provided as quick financial support in conditions of acute need so that Ukraine can finance the most significant state functions.
Funds are provided subject to compliance with several criteria, including:
- preservation of democratic mechanisms, despite the concentration of power in the executive branch in conditions of war,
- increased transparency
- usage reporting.
The decision was adopted with 522 votes in favor, 17 votes against, and 25 abstained.
Prime Minister of Ukraine Denys Shmyhal thanked the European Parliament for the decision.
Вдячний Президенту @EP_President і депутатам Європарламенту за швидке ухвалення макрофінансової допомоги в розмірі 1 млрд євро для фінансової стабільності України. ЄС 🇪🇺 – наша сім'я. Ми вдячні за таку непохитну та сильну підтримку, яка допомагає нам протистояти агресії росії.
— Denys Shmyhal (@Denys_Shmyhal) July 7, 2022
The total amount of EU loans to Ukraine from the beginning of the full-scale war to the end of 2022 may reach 2.2 billion euros.
Read Rubryka's daily timeline of war: current news on Ukraine's defense against russia's aggression.
