EU Council approves EUR 1 billion tranche for Ukraine
The Council of the European Union has approved the allocation of EUR 1 billion in macro-financial assistance to Ukraine to support the economy.
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The Executive Vice President of the European Commission, Valdis Dombrovskis, shared the news.
"€1 billion to Ukraine! After a sped-up adoption the EU will provide the war-stricken state with macro-financial assistance. Money will go to different areas," he wrote.
EU is stepping up its financial support to Ukraine: ???????? ministers just approved €1 billion loan #Ecofin
— Valdis Dombrovskis (@VDombrovskis) July 12, 2022
This is part of new exceptional macro-financial assistance package.
Ukraine is an economy at war.
It badly needs short-term funding.
The EU is there to help #StandWithUkraine https://t.co/G0MgDo3v4R
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