Commission proposes an up to €18 billion support package to Ukraine for 2023

The European Commission has today proposed a support package to Ukraine of up to €18 billion for 2023, under a Macro Financial Assistance + instrument. This will come in the form of highly concessional loans that we will disburse in regular instalments as of 2023.

To ensure a high level of concessionality, the Commission proposes to use its diversified funding strategy to raise the necessary funds from the capital markets. To guarantee the borrowing, the Commission proposes to use the headroom of its EU budget for 2021-2027, which is already used to guarantee the borrowing for assistance inside the EU. You can read a detailed overview of the proposal in the press release and QA document.

The proposal now needs to go through negotiations between the EU institutions before it becomes law and start being implemented.

Further information how the Commission will organise this additional financing and extend the application of the diversified funding strategy will be presented in mid-December when the Commission unveils its funding plans for 2023.