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Ukraine asks EU for additional financial aid amid threat of Russian invasion

Author
Olga Krotovska

Kyiv appealed to the leadership of the European Union with a request for additional financial assistance amid the threat of a new invasion by Russia.

Quote"We have formally requested from the European Commission a long-term, macro-financial program to ensure sustainable financing in the upcoming years," Yuriy Butsa, Ukraine’s commissioner for public debt management, told Bloomberg.

He said that the EU agreed to provide Ukraine with a new program for three years. The parties have already begun negotiations on its terms and the final amount. According to preliminary forecasts, the EC as part of the program will provide Ukraine with more than 1.2 billion euros. It, as reported, will work in parallel with the support program of the International Monetary Fund.

IMF approves providing new tranche of loan of $700 million to Ukraine—how funds will be spent on

Context. In October, the EU paid Ukraine 600 million euros to help the government cope with the economic fallout from the COVID-19 pandemic. In general, the Union provided loans to Ukraine in the amount of 4.4 billion euros under various programs.

Now Russia is taking the same steps as in April of this year, and is pulling in troops and equipment to the borders. Over the past few weeks, the American media and the British intelligence company Jane`s have been actively disseminating information about the concentration of Russian forces near Ukraine.

Ukrainian intelligence expects a new Russian invasion of Ukraine in late January—early February. American colleagues share these forecasts and call on Europe to develop a joint action plan to contain the Kremlin as soon as possible. At the same time, the Russian Federation assures that the dissemination of such data is a "hysteria" that is allegedly artificially whipped up by Washington.

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