| 22 April 2024, Monday |

EU to unveil 50 bln euro aid package for Ukraine

The European Union was due to present a 50 billion euro ($55 billion) assistance package for Ukraine on Tuesday, according to two officials before of a formal announcement.

The figure, to be revealed by European Commission President Ursula von der Leyen, comes after a review of the EU’s 2021-27 budget and ahead of an international conference in London on Wednesday and Thursday on raising funds to rebuild Ukraine after a year and a half of war unleashed by Russia.

One of the sources, a senior EU official, said the total included 33 billion euros in macro-financial assistance to help replenish Kyiv’s state coffers as it fights back against Russia. For 2023, the EU has offered 18 billion in such support to Kyiv.

Ahead of the London talks, a senior Ukrainian official said Kyiv was seeking up to $40 billion for the first part of a “Green Marshall Plan” to rebuild its economy from the war.

The World Bank estimates Ukraine’s reconstruction will cost more than $400 billion, three times the country’s gross domestic product.

  • Reuters