EU wants to support Ukraine with further billions in aid

Created: 05/31/2022Updated: 05/31/2022, 00:30

Ukrainian President Volodymyr Zelenskyy speaks via video link from Kyiv with EU leaders in Brussels.

© Olivier Matthys/AP/dpa

In order to run public facilities such as hospitals and schools, Ukraine needs billions every month.

The EU now promises further support.

Brussels - The European Union wants to provide Ukraine with further financial aid of up to nine billion euros.

This was announced by EU Council President Charles Michel during a meeting of EU heads of state and government in Brussels.

Ukraine should be able to use the money to cover running costs, for example for pension payments and the operation of hospitals.

It is unclear how much money will be paid out as a grant and how much as a loan.

The EU Commission recently announced that it would propose a corresponding measure.

At that time, EU Economic Commissioner Valdis Dombrovskis said that the help should consist primarily of loans and, in part, grants.

According to Ukrainian information, the country receives the equivalent of almost 4.7 billion euros a month from the International Monetary Fund (IMF) and the World Bank.

These are the costs that the Ukrainian budget needs for social spending as a result of the war.

The IMF assumes that Ukraine needs aid of around five billion dollars a month to ensure the functioning of the government and important state institutions.

Ukrainian President Volodymyr Zelenskyj puts the sum to compensate for Ukraine's economic losses at around 6.5 billion euros a month.

In addition, there would be hundreds of billions for reconstruction.

The international community has already provided Ukraine with money on a number of occasions.

According to EU information from mid-May, the European Union has already mobilized 4.1 billion euros in support since the beginning of the Russian war.

This includes 1.5 billion euros for the financing of weapons and military equipment.

Last week, the EU states finally agreed on a further 500 million for this purpose.

A week ago, US President Joe Biden put into effect a billion-dollar US aid package for Ukraine.

Before Biden signed the law, the US Congress passed the package with a volume of almost $ 40 billion (38 billion euros) by a large majority.

Ukraine has also received assurances of support from other countries.

dpa