The President of the European Commission, Ursula von der Leyen, has announced the allocation of 2.5 billion euros of macro-financial assistance to Ukraine.

"The EU Commission is disbursing a further €2.5 billion for Ukraine.

We are planning €18 billion for 2023, with funding disbursed regularly. For urgent repairs and fast recovery leading to a successful reconstruction.

We will keep on supporting Ukraine for as long as it takes," von der Leyen wrote.

The @EU_Commission is disbursing a further €2.5 billion for Ukraine.

We are planning €18 billion for 2023, with funding disbursed regularly.

For urgent repairs and fast recovery leading to a successful reconstruction.

We will keep on supporting 🇺🇦 for as long as it takes. pic.twitter.com/X2bVI5PKe9

— Ursula von der Leyen (@vonderleyen) November 22, 2022

The funds announced today are part of this year's EU macro-financial aid package of 9 billion euros. Ukraine expects to receive another 500 million euros in December.

In addition, Ukraine expects 3 billion euros in early 2023. The funds will be a part of the package worth 18 billion euros for 2023.

On November 9, the European Commission proposed an unprecedented support package for Ukraine of up to €18 billion for 2023. This will come in the form of highly concessional loans, disbursed in regular instalments as of 2023. However, the European Union will need to amend the legislation to ensure the smooth delivery of the package.