EU attracts €2 bln of macro-financial aid to support Ukraine

On October 11, the European Commission placed 7-year and 20-year bonds worth 6 billion euros, says the commission's press service.

The statement emphasizes that funds from raising bonds in the amount of 2 billion euros will be used to provide macro-financial assistance to Ukraine.

The press service reported that the commission placed 7-year bonds in the amount of 5 billion euros with a maturity date of December 4, 2029, and new 20-year bonds for 6 billion euros with a maturity date of November 4, 2042.

The raised funds will be used to support Ukraine within the macro-financial assistance program and the recovery of Europe within the NextGenerationEU program.

"EU funding is a concrete expression of solidarity with Ukraine and Member States recovering from the pandemic. Today, we have successfully and, under challenging market conditions, raised a further €11 billion. Of them, €2 billion will be released swiftly to help Ukraine in this war of aggression on European soil," Commissioner in charge of Budget and Administration Johannes Hahn commented.

From the funds raised through the sale of 20-year bonds, 2 billion euros will be provided as loans to Ukraine.

It will be the first tranche of the macro-financial assistance loan for 5 billion euros, which was agreed upon on September 20.

On October 7, the president of the European Commission, Ursula von der Leyen, announced that the EU would allocate another 2 billion euros of microfinance to Ukraine "in the coming days."

On September 20, the European Union adopted the final decision on the quick allocation of 5 billion euros of macro-financial assistance to Ukraine for support in wartime conditions.