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EU, G7 to provide 9 bln euro of financial aid to Ukraine — European Council President

Earlier, a source in the European Council disclosed that a portion of this aid program will be provided as grants

BRUSSELS, May 31. /TASS/. The EU and its G7 partners intend to provide 9 billion euro of financial aid to Ukraine during the emergency EU summit on Ukraine in Brussels, European Council President Charles Michel announced Monday.

"#EUCO [European Council - TASS] will continue helping #Ukraine with its immediate liquidity needs, together with @G7. EUCO is ready to grant #Ukraine EUR 9 billion," Michel tweeted. "Strong and concrete support to #Ukraine’s reconstruction."

Earlier, a source in the European Council disclosed that a portion of this aid program will be provided as grants, while the rest will be provided as subsidized loans. It is unclear what the share of these parts will be. The sources for this aid are also unclear at this point. Previously, the European Commission proposed to issue Eurobonds, but this plan was met with serious criticism from EU member states.

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