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15/12/2022 - MEPs approved an 18-billion-euro loan to support Ukraine during Russia’s war against the country

argomento: News del mese - Diritto Internazionale e Comunitario

Articoli Correlati: EU Parliament - Ukraine, - loan

On November 24th, 2022, the EU Parliament approved a €18-billion loan for Ukraine that is supposed to cover around half of the €3-4 billion in monthly funding Ukraine needs in 2023. According to the Commission’s proposal, the money will go to support essential public services, such as running hospitals and schools and the provision of housing for displaced persons, macroeconomic stability and the restoration of critical infrastructure destroyed by Russia. The loan, which will be financed by the EU on the financial markets, will be disbursed in quarterly installments, with continuity and predictability essential to keep Ukraine afloat in the context of war. The loan is linked to a series of reforms to be adopted to strengthen the country’s institutions and prepare it for both reconstruction and the path to EU membership. These include measures for the fight against corruption, judicial reform, respect for the rule of law, good governance and the modernization of institutions. Their progress will be examined by the Commission before the disbursement of each installment.