The European Commission has pledged over $700 million (600 million euros) in funding, President Volodoymr Zelensky announced on social media.
“We congratulate the decision of the EU commission on the allocation of a second tranche of macro-financial assistance to Ukraine,” the president wrote. “This is evidence of solidarity between Ukraine and the EU in overcoming challenges and combatting COVID-19.”
This funding comes as part of the European Commission’s assistance package to support neighboring countries in what it describes as its “Team Europe strategy.” The money is intended to support countries in tackling the coronavirus pandemic and boosting solidarity with the European Union.
A total of 10 countries received funding under the program. Ukraine got more than any other recipient, over $1.4 billion out of the total $3.54 billion. Executive Vice-President of the European Commission Valdis Dombrovskis had previously identified Ukraine as a priority for support, noting that it was “high on the European agenda” and “belongs in Europe.”
The European Union had allocated up to $13 billion towards Ukraine’s political, economic, and financial stabilization. During the height of the pandemic in Jun. 2020, Ukraine received a loan of $590 million under the fourth EU macro-financial assistance package.
On Sept.10, Ukraine was informed that it would receive an additional $150 million in financial support from the World Bank to fight the COVID-19 pandemic.
