Ukraine's financing needs are estimated at 38-40 billion euros, which is more than 3 billion euros per month. This year, the EU's contribution is about 1.5 billion euros per month, or 18 billion euros for the whole year - Magyar Hírlap learned from the European Council.
The Economic and Financial Affairs Council of the EU (Ecofin) will review the implementation of the financial support provided to Ukraine on Tuesday, i.e. today in Brussels. The council is expected to adopt an implementing decision to update Luxembourg's National Recovery and Resilience Plan and take forward work on the 2023 European Semester. And the Swedish presidency presents its work program in the field of economic and financial affairs.
On January 17, the ministers will again exchange opinions on the economic and financial effects of the Russian-Ukrainian war with regard to Ukraine, since the beginning of the war this has been a regular item on the agenda at the meetings of the Economic and Financial Council. The European Commission will inform the ministers about the economic and financial situation in Ukraine, as well as the implementation of the macro-level financial support provided by the EU to Ukraine. It should be remembered that in 2022, the EU disbursed a total of 7.2 billion euros to Ukraine as macro-level financial support in the form of highly discounted loans. It is also known that the Council of Europe and the European Parliament adopted a law in December 2022 that provides an additional EUR 18 billion loan to Ukraine in 2023.
The 18 billion euros of loans that can be granted to Ukraine in 2023 have a grace period of 10 years. The aid will be disbursed in regular installments through 2023, averaging €1.5 billion per month per year, to help with some of Ukraine's short-term financing needs, repair of critically damaged infrastructure, and initial reconstruction efforts.
László Levente Tóth's article can be read in Magyar Hírlap
Civilians Info:
Billions of euros and weapons are pouring into Ukraine, meanwhile we get war pictures on TV, various reports about the situation and how many thousands of refugees are arriving in different countries every day. At the same time, if someone clicks on the 1+1 Ukrainian TV channel, they can say that there is no sign of the war. I accidentally discovered this channel myself yesterday, but at first glance I didn't even know that I was watching a Ukrainian channel, only the language drew my attention to it. Because the usual advertisements of welfare societies appeared, from the most modern coffee machine, to comfortable furniture, to the multitude of vitamins and health products.
Who is this all for, I asked myself, because compared to the picture reports of the news programs, it may seem that in the middle of a war, even minor problems are more important to people than to give money for exclusive products, it is enough if they can get the daily income. At least, reviving our historical knowledge, this is how a country where war is raging should happen. Of course, as we know, in today's age only change is permanent.
Featured image: Ukrainian youths help dig trenches
Photo: AFP/Aleksey Filippov
