European Commission President announces 4-year financial assistance plan for Ukraine 

The President of the European Commission Ursula von der Leyen made the announcement.

"We propose a facility for Ukraine for the next 4 years of up to EUR 50 billion," she said.

In particular, the European Commission proposes assistance in the form of grants and loans.

Ursula von der Leyen emphasized that this package of assistance to Ukraine will be financed by contributions from EU member states, not by borrowing on the markets. At the same time, the EU expects assistance from the private sector and other donors.

"To provide predictable finance to Ukraine on its EU path, together with global partners and private sector. On migration, we support external border protection and economic development of our partners with EUR 15 billion," the European Commission President added.

Earlier, Bloomberg wrote that the EU is ready to offer a financial assistance package of about EUR 50 billion to support Ukraine amid the Ukrainian counteroffensive to regain the territories lost after Russia's invasion.

The Commission wants to avoid a burdensome recovery tool for a country at war. Therefore, it will offer assistance in the form of grants, soft loans and guarantees.

• Also on June 6, European Commission President Ursula von der Leyen announced the provision of humanitarian aid to Ukraine to eliminate the consequences of the destruction of the Kakhovka HPP by Russian troops.