VdL Confirms Ukraine EUR1.2bn Financial Support Package

European Commission President Ursula von der Leyen has confirmed that the EU will supply an additional EUR1.2bn in financial aid to Ukraine as it gears up for a potential Russian invasion on its eastern border.

• Von der Leyen's twitter account posted: "[the package] will help Ukraine now, to address financing needs due to the conflict & support the country’s resilience-building efforts. It consists of: 1. New macro-financial assistance package of €1.2 billion 2. Doubling of bilateral assistance this year, with another €120 million. On top of this, we will soon start work on a second, longer-term MFA programme to support the country’s modernisation efforts and continue to invest in the country’s future thanks to our Investment Plan for Ukraine. This plan aims to leverage over €6 billion in investments."
• Comes as EU High Rep for Foreign Affairs Josep Borrell states that the EU will not at present be following the US in withdrawing the families of top diplomats from Ukraine in expectation of potential military action.