The European Commission will provide €18B in financial assistance to Ukraine.

 The President of the European Commission, Ursula von der Leyen, informed President Zelenskyy that this week she will propose a substantial financial package from the EU of up to €1.5B a month, totaling up to €18B, which would contribute significantly in covering Ukraine’s financing needs for 2023. The support will come in the form of highly concessional long-term loans, with coverage of the interest costs, and will also work to support Ukraine’s reforms and its path toward EU membership. The EU financial package will need to be matched by similar support from other sources. Furthermore, President von der Leyen confirmed ongoing work by the EU to continue to provide immediate humanitarian aid to Ukraine, particularly over the winter.