The European Union and Ukraine signed on Monday a Memorandum of Understanding regarding the €18 billion aid package for 2023 announced in October, APA reports citing Teletrader.
European Commissioner for Trade Valdis Dombrovskis said the first installment of €3 billion will be sent to Kiev later this week.
"This will help Ukraine cover its pressing needs, with a stable flow of payments throughout the year," Dombrovskis said. Ukrainian Prime Minister Denys Shmyhal added that the aid will "help maintain macroeconomic stability going forward." The EU estimated Ukraine will require €3 billion to €4 billion a month to cover basic needs.
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