European Commission announces €1.2 billion emergency loan for Ukraine

As tensions increase over Russia’s military escalation around Ukraine, the EU signaled its support by announcing a new emergency macro-financial assistance package (MFA) of €1.2 billion and an additional €120 million in grant assistance. The package aims to help Ukraine address additional financing needs due to the conflict. 

European Commission President, Ursula von der Leyen said: “Let me be clear once more: Ukraine is a free and sovereign country. It makes its own choices. The EU will continue to stand by its side.”

Von der Leyen said she counted on the Council and the European Parliament to adopt this emergency assistance as soon as possible. 

The Commission will also increase grant assistance to Ukraine this year by €120 million above the €160 million already allocated for 2022. 

These measures are in addition to the EU’s investment plan for the country. This plan aims to leverage over €6 billion in investments. 

Von der Leyen spoke with Ukraine President Zelenskyy to assess the situation in Ukraine created by Russia's aggressive actions on Friday. Since 2014, the EU and European financial institutions have allocated over € 17 billion in grants and loans to the country.

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