EU to allocate $2.5 billion in financial aid to Ukraine in November – Commissioner

The European Union will allocate $2.5 billion in macro-financial assistance to Ukraine by the end of November, European Commission Executive Vice-President Valdis Dombrovskis said on Wednesday.

MOSCOW (UrduPoint News / Sputnik – November 09, 2022) The European Union will allocate $2.5 billion within the framework of macro-financial assistance Ukraine at the end of Novembersaid European Commission Executive Vice-President Valdis Dombrovskis on Wednesday.

“Since February the EU, its Member States and European financial institutions provided 19.7 billion euros ($19.78 billion) to support the economic, social and financial resilience of Ukrainemilitary assistance arrives High of this amount. We are waiting for the next payment of 2.5 billion euro ($2.5 billion) of macro-financial assistance to achieve Kyiv by the end of this month,” Dombrovksis told a news conference.

On February 24, Russia launched a military operation in Ukraine following calls for help of the breakaway republics of Donetsk and Luhansk. Western countries have reacted by imposing comprehensive sanctions against Moscowwhile strengthening their financial and military support for Kyiv.

On October 3, Dombrovskis signed a memorandum of understanding with Ukraine on $5 award billion in slices October, November and December. The tranche is part of the macro-financial support program of up to $9 billion donated by the EU to Kyiv on May 18, including $1 billion has already been paid in August and another $2 billion allocated in October.