The European Parliament agreed to allocate €5 billion in financial aid to Ukraine

Author:
Oleksiy Yarmolenko
Date:

The European Parliament supported the EUʼs decision to allocate €5 billion in financial aid to Ukraine. This is the second part of a total aid package of €9 billion.

The press service of the European Parliament writes about it.

"Ukraineʼs needs for external financing increased rapidly due to the Russian invasion. In addition to massive damage to roads, bridges, factories, homes, hospitals and other physical infrastructure, the country also lost access to international financial markets," the European Parliament noted.

534 deputies voted for the decision to allocate funds, 30 were against and 26 abstained.

This will be the second and largest tranche of a total aid package of €9 billion. Previously, Ukraine received only one billion from this package.

The European Parliament emphasizes that despite many promises of financial support, Ukraine still needs about €9.8 billion to cover the budget deficit.