The European Commission's new draft proposal provides for the allocation of EUR 8 billion in financial aid to Ukraine in the form of grants and loans, two EU officials told POLITICO.
The new aid project appeared after Germany refused to provide guarantees for a EUR 9 billion loan to Ukraine. According to European officials, Kyiv already has significant debt obligations, so grant financing is the best way.
The EU plans to divide the EUR 8 billion aid into two parts. The first is a credit, which will amount to a EUR 5 billion long-term loan, and the second is a grant, to which the remaining EUR 3 billion will be attracted.
While there are no exact dates for the implementation of the assistance, however, the Commission expects that the European Parliament and the EU countries will approve the provision of funds to Ukraine in September, so that payments can begin in October.
In May, EU leaders promised Ukraine macro-financial assistance of up to EUR 9 billion. However, Ukraine received only EUR 1 billion provided by the EU budget.
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