{"id":37528,"date":"2022-05-16T16:59:01","date_gmt":"2022-05-16T13:59:01","guid":{"rendered":"https:\/\/www.ukrgate.com\/eng\/?p=37528"},"modified":"2022-05-16T16:59:05","modified_gmt":"2022-05-16T13:59:05","slug":"the-eu-will-offer-ukraine-new-loans-to-cover-urgent-needs-reuters","status":"publish","type":"post","link":"https:\/\/www.ukrgate.com\/eng\/?p=37528","title":{"rendered":"The EU will offer Ukraine new loans to cover urgent needs &#8211; Reuters"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">The European Commission is going on Wednesday, May 18, to offer a new package of financial assistance to Ukraine, including new loans and commitments for long-term financing of the country&#8217;s reconstruction, citing officials, according to Reuters, \u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>KYIV.\u00a0UkraineGate , 16 , May , 2022 | Ukraine News .\u00a0<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Details<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The amount of short-term financial support is still being determined, but two officials familiar with the discussions said they expected it to &#8220;roughly cover Ukraine&#8217;s financial needs for two months, mostly through loans.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A third official said the money would come from the EU budget and EU governments, dismissing earlier&nbsp;<a href=\"https:\/\/www.unn.com.ua\/uk\/news\/1976188-yes-planuye-predstaviti-plan-finansuvannya-vidnovlennya-ukrayini-18-travnya-bloomberg\">talks<\/a>&nbsp;that funds could be raised in the market by issuing joint bonds backed by the EU budget.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The extent of EU support, as indicated, will also depend on how many G7 countries are willing to contribute.&nbsp;A meeting of G7 finance ministers is scheduled for the second half of this week, after the European Commission is expected to release its proposals.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Member States must sign the European Commission&#8217;s plan and may try to adjust it.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Governments differ on how to support Ukraine, with many preferring loans, despite the IMF&#8217;s view and Ukraine&#8217;s likely inability to repay them.&nbsp;According to EU diplomats, Germany is one of the EU countries that supports grants.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to officials, the package could be a mixture of grants and loans.&nbsp;The money will go to pay salaries, pensions and hospital expenses.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The European Commission is also expected to announce on Wednesday its commitment to supporting Ukraine&#8217;s long-term recovery, officials said, outlining the principles of what is estimated to be a colossal trillion-euro financial effort.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Addition<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In April, the International Monetary Fund (IMF) estimated that Ukraine needed about $ 5 billion a month for at least three months to cover the deficit caused by the Russian invasion.&nbsp;The head of the Foundation, Kristalina Georgieva, called for this support to be provided in the form of grants, not loans.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The new package will be provided in addition to the EU&#8217;s 1.2 billion-euro emergency loan to Kyiv, agreed by the EU in January, half of which has already been disbursed and part of which is expected to be disbursed soon, a European Commission spokesman said.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Source:\u00a0<a href=\"https:\/\/www.unn.com.ua\/\">Ukrgate<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The European Commission is going on Wednesday, May 18, to offer a new package of financial assistance to Ukraine, including new loans and commitments for long-term financing of the country&#8217;s reconstruction, citing officials, according to Reuters, \u00a0 KYIV.\u00a0UkraineGate , 16 , May , 2022 | Ukraine News .\u00a0 Details The amount of short-term financial support [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":37529,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,10831],"tags":[377,813,996,2399,1000],"class_list":["post-37528","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ukraine-news","category-war-news","tag-eu","tag-russia","tag-ukraine","tag-ukraine-gate","tag-ukraine-news"],"_links":{"self":[{"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=\/wp\/v2\/posts\/37528","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=37528"}],"version-history":[{"count":1,"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=\/wp\/v2\/posts\/37528\/revisions"}],"predecessor-version":[{"id":37530,"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=\/wp\/v2\/posts\/37528\/revisions\/37530"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=\/wp\/v2\/media\/37529"}],"wp:attachment":[{"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=37528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=37528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ukrgate.com\/eng\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=37528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}