European Commission to Provide Ukraine With Nearly $20 Billion in 2023

First payment of 3 million euros to be sent this week

Image Credits: SERGEI SUPINSKY/AFP via Getty Images.

The European Commission has signed a memorandum of understanding to provide Ukraine with financing of up to 18 billion euros ($19.5 billion) in loans in 2023, with the first payment of 3 billion euros to follow later this week, Executive Vice President for An Economy that Works for People Valdis Dombrovskis said on Monday.

“Honoured to sign MoU on behalf of the EU to provide Ukraine with [EU] financing in 2023 – up to €18 bln in loans,” the European Commission’s official tweeted.

The official also said that the first payment of 3 billion euros would take place “later this week.”

On Friday, European Commission President Ursula von der Leyen said that the bloc had approved the macro-financial aid to Ukraine for 2023, which became the largest tranche the European Union has ever delivered to a partner country.

According to data from the experts, since the start of Russia’s military operation in Ukraine on February 24, Kiev has received more than $37 billion in aid from the EU.

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