18 May 2022 14:47

European Commission proposes new financial assistance of 9 bln euros for Ukraine

BRUSSELS. May 18 (Interfax) - The European Commission has proposed providing another package of financial assistance worth nine billion euros to Ukraine, European Commission President Ursula von der Leyen said.

"We are proposing new macro-financial assistance for Ukraine of up to 9 billion euros in 2022," von der Leyen said on Twitter.

The rebuilding of Ukraine should take place in parallel with reforms in this country, she said. The European Commission also proposes drawing up a Ukraine reconstruction program, which will bring together EU member states, international donors, financial institutions, and other partners, she said.

EU member states are also increasing defense spending, von der Leyen said, adding that this money should be spent in a coordinated way. The EU will set up a taskforce to coordinate defense procurement needs, she said.