EU to allocate additional €1 billion to Ukraine for emergency recovery needs
The ministers of economy and finance of the countries of the European Union (EU) held an informal meeting. According to its results, the Deputy Head of the European Commission, Valdis Dombrovskis, said that the EU will allocate an additional €1 billion to Kyiv. The money will be used for the needs of the emergency restoration of Ukraine.
“As for Ukraine, the EU will raise an additional €1 billion for emergency recovery needs,” Dombrovskis said. His words on Saturday, April 29, leads TASS.
The deputy head of the EC claims that Ukraine needs €14 billion for emergency recovery needs. He added that a total of €411 billion would be needed to restore the country’s economy.
Earlier it became known that the European Union (EU) will provide Ukraine with two tranches macro-financial assistance in May and June. The amount of each will be €1.5 billion.
In January, the EC announced its intention to transfer funds from the new macro-financial assistance to Kyiv in 2023 on a monthly basis. The total amount will be up to €18 billion.