As expected following the previous day’s debate, on Thursday 24 November MEPs approved as a matter of emergency and by a large majority (507 votes in favour, 38 against and 26 abstentions) to grant new macrofinancial assistance to Ukraine for the year 2023.
This aid will provide €18 billion in concessional loans, while Ukraine needs $3-4 billion a month to meet its financial commitments and run its public services in wartime. It is based on a new financial technique for this type of operation, which requires a modification of the 2021-2027 Multiannual Financial Framework in order to constitute a European public guarantee on future EU budgets.
The European Court of Auditors has pointed out the risks inherent in this technique (see EUROPE 13069/2). The Ecofin Council could endorse the macrofinancial assistance, possibly on Tuesday 6 December.
On Thursday, the Hungarian authorities confirmed that they were opposed to a common European debt to support Ukraine in 2023. They are committed to providing €187 million in bilateral aid to the country. (Original version in French by Mathieu Bion)