03/11/2022 (Agence Europe) – In line with the European Council’s request (see EUROPE 13048/1), experts from the Member States and the European Commission have started work on establishing a stable macrofinancial assistance mechanism for Ukraine for the whole of 2023, with Ukraine’s needs ranging from €3 to €5 billion per month. The aim is to reach a political agreement on this mechanism before the end of 2022. According to an EU source consulted on Thursday 3 November, the €3 billion still owed out of the €9 billion package promised to Kyiv will be part of this mechanism, which should be in a position to pay out funds “in January” next year. Two aid instalments will be paid by the end of 2022 to complete the disbursement of the €6 billion in loans already approved (see EUROPE 13045/12). (MB)