The European Commission plans to allocate up to € 9 billion to Ukraine this year and is preparing a plan to rebuild the country

Oleg Panfilovych

The European Commission plans to provide up to 9 billion macro-financial assistance to Ukraine this year.

This was announced by the President of the European Commission, Ursula von der Leyen.

“We will continue to be by Ukraineʼs side — throughout this war and when they start rebuilding. We are proposing new macro-financial assistance to Ukraine up to € 9 billion in 2022,” she said.

In addition, von der Leyen announced the creation of a "platform for reconstruction" led by Ukraine and the European Commission. It will be joined by EU Member States, international donors, financial institutions and other partners.

On Wednesday, Bloomberg reported that the European Commission is proposing a financial package in coordination with allies and other organizations to help cover Ukraineʼs budget deficit of $ 15 billion over the next three months. The commission will offer Kyiv € 7-9 billion in loans to finance urgent government bills as part of the package under discussion. According to the draft proposal, member states will offer new guarantees that will allow the bloc to offer long-term loans, and grants from the EU budget will subsidize interest.

As part of this initiative, the EU will investigate the use of confiscated assets of Russians who have been sanctioned since the start of the war in Ukraine.