Attachments
The EU stands united in its unwavering support for Ukraine in the face of Russia’s war of aggression and its illegal attempts to annex Ukrainian territory.
The EU continues to work relentlessly with international partners to make sure Ukraine receives the material support it needs and to hold Russia accountable for its actions.
The EU has also offered temporary protection to over four million people fleeing the war and is committed to continue providing strong political, financial, economic, humanitarian, military and diplomatic support to Ukraine and its people for as long as it takes.
The EU opened accession negotiations with Ukraine.
SUPPORT FOR UKRAINE’S ECONOMY
The EU has established a dedicated financing instrument of up to €50 billion to provide predictable and flexible support to Ukraine for the period 2024-2027 to support its recovery, reconstruction and modernisation, in line with its EU path. The Ukraine Facility is operational since 1 March 2024.
In 2024, a total of €15.6 billion has been mobilised under all three pillars and €12.4 billion disbursed so far. As part of the Ukraine Investment Framework, the first €1.4 billion in grants and guarantee agreements were signed in June at the Ukraine Recovery Conference in Berlin to support Ukraine’s recovery and attract private sector investments. They will notably focus on the repair, rehabilitation and development of energy and transport infrastructure, support municipalities, as well as enhance access to finance for small and medium-sized enterprises.
Following up on the commitments by G7 leaders and based on a proposal by the Commission, the EU adopted a new financial assistance package to Ukraine. It consists of an exceptional macro-financial assistance (MFA) loan of up to approximately €18 billion and a loan cooperation mechanism that will support Ukraine in repaying loans provided by the EU and G7 partners for up to €45 billion. The loan cooperation mechanism is to be financed by extraordinary revenues stemming from immobilised Russian sovereign assets.
In 2023, the EU budget enabled €19.5 billion in assistance to Ukraine, including an unprecedented support package of €18 billion in concessional loans.
This was on top of €11.6 billion provided in loans and grants in 2022. This support helped Ukraine keep paying wages and pensions, restore critical infrastructure that is destroyed by the war, maintain essential public services, such as hospitals, schools, and housing for relocated people, and ensure overall macroeconomic stability. As part of this assistance in 2023, the EU mobilised €1 billion for fast recovery, while guarantee agreements were signed with international financial institutions with potential capacity to unlock over €800 million in investments from the Ukrainian private sector for the recovery and reconstruction of the country’s economy.
Part of the 2022 assistance, a €330 million emergency package focused on housing solutions for internally displaced persons. The EU has suspended import duties, quotas and trade defence measures on Ukrainian exports to the EU until 5 June 2025, with reinforced safeguard mechanism and an emergency brake for certain sectors. Ukraine also participates in a series of EU programmes such as the Connecting Europe Facility, the Single Market Programme and Horizon Europe.