EU plans to provide 72 billion euros in aid to Ukraine

The European Union (EU) is preparing a financial aid package of 72 billion euros for Ukraine for the years 2024-2027.

According to the news on the Politico website, the EU Commission has started to prepare a new aid package for Ukraine.

Within the scope of the package, 18 billion euros will be provided to Ukraine every year in the 2024-2027 period.

Assistance through a special mechanism to be set up under the EU’s long-term budget; will consist of grants and loans. With this support, it will be aimed to balance Ukraine’s budget expenditures and to contribute to the reconstruction of the country.

The package will include conditions in various areas such as anti-corruption and structural reforms.

Ukraine’s economy shrank by about 30 percent last year due to the war.

The World Bank estimates that rebuilding Ukraine could cost $411 billion.

The EU had previously decided to provide 18 billion euros in financial aid to Ukraine in 2023.