The European Union has signed a Memorandum of Understanding on providing financial assistance to Ukraine worth 5 billion euros

4 October, 2022
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The European Union has signed a Memorandum of Understanding on providing financial assistance to Ukraine worth 5 billion euros

The European Union has signed a Memorandum of Understanding on providing additional financial aid to Ukraine worth 5 billion euros.


"EU funds will be used to meet immediate liquidity needs and pay salaries and pensions," said Vice-President of the European Commission, Vladis Dombrovskis, and noted that "the first part of the aid will be provided in mid-October and two tranches will be presented later in the year."


For his part, Ukrainian Prime Minister Denis Shmyal said, "This is another sign of the European Union's determination to support his country in order to win the Russian military operation in Ukraine, rebuild and seek a European future."


Last September, the European Union agreed to provide 5 billion euros in additional financial aid to Ukraine to face its crisis with Russia.


This aid is part of another financial aid package for Ukraine worth 9 billion euros announced by the European Commission last May.


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