EU Aims to Dispel Criticism on Ukraine Aid With €18 Billion Plan
- Package aims to offer orderly payments after months of delays
- Funds to come with conditions on rule of law and anti-graft
Workers repair infrastructure in a power station on November 04 in Kyiv Oblast, Ukraine.
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The European Union will propose on Wednesday a new mechanism to provide €18 billion ($18.1 billion) in financial aid to Ukraine in a more predictable manner after the bloc was slow to provide all the support it promised earlier this year.
The plan would set a sustainable framework to cover Ukraine’s finances in 2023 while remaining flexible to adjust the aid to evolving funding needs, people familiar with the proposal said. The plan will also help to prepare the ground for reconstruction efforts.