KYIV (Reuters) – President Volodymyr Zelenskiy said on Thursday the EU’s approval of an aid package to Ukraine would strengthen long-term economic and financial stability as the war with Russia approaches its third year.
“It is very important that the decision was made by all 27 leaders, which once again proves strong EU unity,” Zelenskiy said on the X social media platform.
“Continued EU financial support for Ukraine will strengthen long-term economic and financial stability, which is no less important than military assistance and sanctions pressure on Russia,” he said.
Ukraine expects to receive the first tranche of 4.5 billion euros ($4.9 billion) from the EU facility in March, the economy ministry said.
Finance Minister Serhiy Marchenko said that 39 billion euros out of the 50 billion euro four-year facility would be channelled to cover Ukraine’s budget needs.
Ukraine critically depends on financial support from its Western allies. Since the start of Russia’s invasion on February 24, 2022, Kyiv has received about $73.6 billion in international financial aid, including $27.5 billion from the European Union.
Ukraine’s sovereign dollar bonds gained as much as 1 cent, with 2028 notes rising to 26.165 cents in the dollar, after the EU agreed on the package.
(Reporting by Olena Harmash and Yuliia Dysa; Editing by Jon Boyle)
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