Home New loan EU offers 9 billion euro loan to Ukraine and prepares for reconstruction -Commission

EU offers 9 billion euro loan to Ukraine and prepares for reconstruction -Commission

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BRUSSELS, May 18 (Reuters) – The European Commission on Wednesday offered a 9 billion euro ($9.5 billion) loan to Ukraine to keep the country going as it struggles to repel the invasion Russian and wants to set up a reconstruction facility after the Russian invasion. war.

Money from the €9 billion loan would be borrowed by the Commission on the markets under the macro-financial assistance facility, backed by guarantees from EU governments.

“We propose to complement the significant short-term relief provided so far, with new exceptional macro-financial assistance to Ukraine of up to €9 billion in 2022,” said Commission President Ursula von der Leyen.

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“But we also have to think about the aftermath for the broader reconstruction effort. The EU would and should not be the only contributor to this effort,” she said.

“That is why we are proposing a reconstruction platform under this plan jointly led by Ukraine and the Commission and bringing together EU Member States, other bilateral or international donors, international financial institutions and ‘other like-minded partners,’ she said.

($1 = 0.9507 euros)

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Reporting by Jan Strupczewski; edited by Philip Blenkinsop

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