European Union will provide €9 billion aid to Ukraine this week, – Bloomberg

The new package includes 25-year loans with a 10-year grace period to pay the loan principal

In the coming days, the European Union will conclude the details of €9 billion financial aid package for Ukraine, Bloomberg reported.

European Commission President Ursula von der Leyen has previously said that the EU will provide €9 billion in financial assistance to Ukraine by the end of 2022. According to her, these funds will be allocated in the short term for the “needs to support the government and state budget.”

According to Bloomberg, the new aid package will consist of 25-year loans with a 10-year grace period to pay loan principal. At the same time, interest payments will be covered from the EU budget.

The newspaper writes that the EU leaders are to meet on June 23 and 24 in Brussels. The meeting is scheduled to discuss Ukraine’s reconstruction plan and its application to join the Union. Earlier the European Commission approved the Plan of reconstruction of Ukraine.

GMK Center also reported that the G7 member states want to initiate financial support to Ukraine for €30 billion by the end of the year. At the same time, they agreed to strengthen sanctions against Russia and, thus, Russia’s economic and political isolation, as well as to continue supplying weapons to Ukraine.