Johannes Hann, the European Commissioner for the Budget, said that no EU country had any objections to the aid package, including its financial scope.
The assistance will be provided through the newly created European Fund for Ukraine, which will manage the distribution of funds. The funds will be used to finance a wide range of projects, including infrastructure restoration, support for small and medium-sized businesses and assistance to internally displaced people.
The agreement to provide financial assistance to Ukraine in the amount of 50 billion euros is an important step forward in supporting Ukraine in the context of the war with Russia. This assistance will help Ukraine rebuild its country and build a better future for its people.
The €50 billion bailout package will be distributed as follows:
20 billion euros for infrastructure restoration
15 billion euros to support small and medium-sized businesses
10 billion euros to help internally displaced people
5 billion euros for other purposes
Assistance will be provided in the form of grants and loans. Grants would not have to be repaid, but loans would have to be repaid at low interest rates.
The funds will be distributed through the European Fund for Ukraine, which will manage the funded projects. The Fund is led by the European Commission and will include representatives of EU member states and Ukraine.
