EU President Ursula von der Leyen proposes “substantial” financial support package for Ukraine

THE President of the European Commission, Ursula von der Leyen, spoke to the President of Ukraine, Volodymyr Zelensky on Sunday, November 6 and said she would propose a substantial financial support package from the EU of up to €1.5 billion a month for the war-torn country.

During talks between Ursula von der Leyen and Zelensky, which centred around financial support for Ukraine, the EU President proposed the large monetary aid package, which totals up to €18 billion, that would “contribute significantly to cover Ukraine’s financing needs for 2023.”

The EU said that “both leaders recognised the importance of ensuring predictable and regular funding of essential state functions.”

It added: “The support in the form of highly concessional long-term loans, with coverage of the interest costs, would also work to support Ukraine’s reforms and its path towards EU membership.

“The EU financial package would need to be matched by similar support from other major donors. President von der Leyen confirmed ongoing work by the EU to continue to provide immediate humanitarian support to Ukraine, particularly over the winter.”

President von der Leyen, who was recently blasted for her involvement in “the biggest corruption scandal in the history of mankind”, reiterated that the EU is in it for the long haul in its support for Ukraine.

During the conversation, the leaders also discussed the importance of ensuring Ukraine’s agricultural exports can reach the world.

“In addition to full support for the UN’s efforts to reach an agreement with Russia on the Black Sea Grain Initiative, the leaders also discussed plans to expand the capacities of the EU-Ukraine Solidarity Lanes, which have so far been used to transport the great majority of Ukrainian agricultural and non-agricultural exports since the start of the Russian war,” it said.

“Finally, the leaders discussed strengthening sanctions, as well as the negative role played by Iran’s support for Russia’s aggression and how to respond.”

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