Portugal has pledged 350 million euros in aid to Ukraine, a sum that reflects the sums already mobilized and the commitments, the Finance Minister announced today while defending a European Union (EU) reflection on future support.
“The 350 million euros reflect the support that was approved for the years 2022 and 2023,” said Fernando Medina. “This is the total amount, one part in guarantees and the other part in direct financing.”
At the conclusion of the meeting of European Union finance ministers in Stockholm, under the Swedish Presidency of the Council, on the day that macro-financial assistance to Ukraine is being discussed, the Portuguese leader reminded the press that “there is no decision-making framework beyond 2024.
Now that the annual EU package for Ukraine has been approved, it is “necessary to reflect on how that support evolves, how Ukraine’s needs are emerging and will emerge in the near future,” according to him.
Today, Fernando Medina met with his counterpart, the Finance Minister of Ukraine, to whom he conveyed “what has been the position of the Portuguese State since the beginning, of an unequivocal support to Ukraine in this aggression they are suffering from Russia’s invasion, a support that is not merely rhetorical, but already has a substantial financial dimension.”
The minister reaffirmed that Portugal has already pledged more than 350 million euros in direct financial support.
The EU mobilized the third €1.5 billion (ME) tranche of the €18 billion macro-financial assistance (MFA+) package for Ukraine on Tuesday of last week.
The MFA+ package aims to finance the immediate needs of the country, including the payment of salaries and pensions, as well as the maintenance of hospitals, schools, and even housing for the displaced populations caused by the war launched by Russia on February 24, 2022.
According to a statement from the European Commission, the 1.5 billion euro tranche was made available after an evaluation of Ukraine’s progress in implementing objectives contracted with Brussels, such as strengthening the rule of law and financial stability, improving the functioning of the gas energy system, and fostering a better business climate.
In May and June, two additional monthly payments of $1.5 billion are scheduled to be disbursed.
Since the start of the conflict, the EU has provided Ukraine with approximately 68 billion euros in financial, humanitarian, and military assistance.
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