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European Parliament greenlights EUR 1.2B assistance package to Ukraine

European Parliament greenlights EUR 1.2B assistance package to Ukraine
17 of February 2022 г.
During the plenary session in Strasbourg, the European Parliament gave the green light to a EUR 1.2 billion macro-financial loan to Ukraine.

“The resolution, adopted under the urgency procedure, passed with 598 votes for, 55 against and 41 abstentions,” reads the European Parliament’s press release.

The decision to provide macro-financial assistance to Ukraine must also be taken at the level of the Council of EU before it enters into force.

On February 11, the Permanent Representatives Committee (COREPER) supported the European Commission's proposal to provide additional emergency macro-financial assistance to Ukraine to the tune of EUR 1.2 billion.

The EU provides new emergency macro-financial assistance to Ukraine in response to geopolitical tensions around the country which have had a detrimental effect on its economy and financial stability. Ongoing security threats posed by Russia have led to significant capital outflows and lost access to international capital markets.

The emergency macro-financial assistance is provided for a period of 12 months and will consist of two tranches.

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