(Republicaninformer.com)- Last month, the European Commission adopted a proposal to send 18 billion euros (or $19.47 billion US) in aid to Ukraine in 2023.
The money will help Ukraine meet its budgetary needs through 2023, including meeting its payments for public sector employees and social services as well as maintaining macroeconomic stability.
The assistance is an interest-free loan that Ukraine must start repaying in ten years.
According to the European Commission, the money will help strengthen Ukraine’s institutions and lay the groundwork for “successful reconstruction” efforts while “supporting Ukraine on its European path.”
Last Tuesday, Swedish Finance Minister Elisabeth Svantesson confirmed that Ukraine received the first 3 billion euros from the assistance package.
According to the Kiel Institute for World Economy’s Ukraine Support Tracker, the database of the military, financial, and humanitarian aid to Kyiv, with the promise of 18 billion euros, Europe surpassed the United States in the total aid committed to Ukraine.
Congress has approved over $100 billion in aid to Ukraine since the start of the war. Above that, the Biden State Department has committed additional aid to Ukraine.
Earlier this month, the State Department announced an additional $3.75 billion in assistance for Ukraine and its neighbors that included $225 million in financing to support the modernization of Ukraine’s military.
Last Thursday, the State Department announced another $2.5 billion aid package, bringing the total provided by the State Department to $27.5 billion since the start of the war. This is over and above the aid passed by Congress.
The latest aid package will provide Ukraine with hundreds of armored vehicles, including Stryker personnel carriers and Bradley infantry fighting vehicles. The package will also provide additional air defense support, including Avenger air defense systems and surface-to-air missiles. The US will also provide additional munitions for NASAMS, as well as small arms ammunition, night vision goggles, and other items.