European Commission Drafted Plan To Finance Restoration Of Ukraine - Reports

Umer Jamshaid Published May 18, 2022 | 09:40 AM

BERLIN (UrduPoint News / Sputnik - 18th May, 2022) The European Commission (EC) has drafted a plan to finance the restoration of Ukraine, it can be approved by the EC on Wednesday, The Frankfurter Allgemeine Zeitung reported, citing a draft document.

The newspaper did not specify the amount that the European Union will allocate.

The funds will be accumulated through a special fund or through additional budget allocations. EU countries can allocate part of the funds on their own, as well as through subsidies and loans for Kiev.

"Due to the scale of the loans that may be required, the European Commission may also get the right to receive funding for loans on the monetary market," the newspaper quoted the document.