This 12-month loan allocated in two tranches was proposed by the European Commission at the end of January and approved by the Member States on Friday. It serves to “provide rapid support in an acute crisis situation and to strengthen the country’s resilience”, indicates the text adopted by the European Parliament.
Half will be granted immediately, if certain conditions are met. Ukraine must demonstrate progress in the implementation of a macroeconomic program established by the International Monetary Fund (IMF), as well as guarantees in terms of the rule of law.
An emergency procedure
MEPs gave the green light under an emergency procedure by 598 votes for, 55 against and 41 abstentions.
In the hemicycle of the European Parliament in Strasbourg on Wednesday, the President of the European Council (body of the Member States), Charles Michel, however considered that it would be necessary to “go beyond” this emergency loan of 1.2 billion euros.
Half will be granted immediately, if certain conditions are met.
“I want to launch here this proposal for an initiative, to set up, in close cooperation with Ukraine and the European Union, a conference of donors in order to support the economic robustness of Ukraine”, he said. indicated.
According to Commission President Ursula von der Leyen, the EU and its financial institutions have already mobilized “€17 billion in grants and loans” for Ukraine since Moscow’s annexation of Crimea in 2014.