Skip main navigation

Direct link to content

The Grand Committee supports the proposal for macro-financial assistance to Ukraine

Published 11/18/2022 11:00 AM
Flags of the EU and Ukraine

The Grand Committee supports the proposal for macro-financial assistance to Ukraine

At its meeting on Thursday, November 17, the Grand Committee decided on Parliament's position on the European Commission's proposal for macro-financial assistance to Ukraine. The Grand Committee agreed with the Government's position on the matter and supports the proposal to grant Ukraine 18 billion euros in macro-financial support in 2023. The Committee heard Minister of Finance Annika Saarikko (Centre Party Parliamentary Group) in the matter.

The financial support would be financed by utilizing the headroom of the EU's own resources and the 2021-2027 multiannual financial framework in a targeted manner for Ukraine. The headroom will guarantee bond investors that the amounts lent to the EU to finance Ukrainian loans borrowing will be repaid under all circumstances.

Like the Government, the Grand Committee considers it important that the EU's strong political, economic, and military support for Ukraine, as well as humanitarian aid to Ukraine, be continued and increased. It is important that the EU and other international partners support Ukraine in its short-term financing needs. The Committee concluded that Ukraine's long-term financing needs should be considered separately from the proposal at hand.

The Commission's goal is for the package consisting of three legislative proposals to be finally approved by the Economic and Financial Affairs Council on December 6. The Grand Committee stated at the beginning of its meeting that the motion is a matter in accordance with Article 96 of the Constitution, which the Government has brought to Parliament with Europe Communication due to its urgency. The Committee considered the method of operation to be justified. The Grand Committee stated that, due to the urgency of the matter, it can make a decision without a special committee's consideration. The Grand Committee decided to send the matter to the Foreign Affairs Committee and the Finance Committee.​​​