The European Union is ready to offer a financial assistance package of about 50 billion euros to support Ukraine, writes Bloomberg. According to agency sources familiar with this plan of the European Commission, the money is needed for the current expenses of the Ukrainian government (payment of salaries and pensions) and the urgent reconstruction of infrastructure.
As noted by Bloomberg, such assistance will be offered in the form of grants, soft loans and guarantees. Unlike previous financial packages for Ukraine, the plan will be funded by contributions from member states rather than market loans, one source said.
Since the beginning of the war, the EU has approved almost 38 billion euros in economic assistance to Ukraine. The World Bank estimates that the cost of rebuilding Ukraine could be $411 billion. The money will be paid on the condition that Ukraine implements reforms to improve the rule of law and fight corruption.
News of a new aid package for Ukraine comes as the Ukrainian Armed Forces advance in Zaporozhye as part of a counteroffensive. Read more about what is happening at the front in The Insider summary .