Media: The EU has prepared a new plan to help Ukraine replace blocked Germany

MOSCOW, August 6 — RIA Novosti. The European Commission has prepared a new project of financial assistance for Ukraine for EUR 8 billion in the form of a combination of grants and loans, writes A European publication by Politico, referring to two EU officials.

The new project came later Germany refused to provide loan guarantees on Ukraine up to EUR 9 billion. «Berlin argued that Kyiv, which is already heavily indebted, would be better at dealing with subsidies,» reads the article.

Under the new program, the European Union must provide up to five billion euros in long-term loans against guarantees from countries EUin line with their contribution to the block budget. Interest payments will be subsidized from the EU budget. The remaining amount, around three billion euros, will be provided in the form of a grant, officials said.