European Parliament Voted to Provide Ukraine with Additional Macro-Financial Assistance in the Amount of EUR 5 billion

Today, September 15, the European Parliament supported the proposal of the European Commission from September 7 to launch a new program for Ukraine, the eighth EU Macro-Financial Assistance (MFA) in the amount of EUR 5 billion.

It is expected that the first tranche of funds under the MFA will be provided to Ukraine immediately after the entry into force of the respective Memorandum of Understanding and the Credit Agreement. Negotiations on the conditions of the Memorandum and the Credit Agreement will be held immediately after the decision to provide Ukraine with additional financial support by the Council of the EU is taken.

"Today, in the face of global challenges, the civilized world is united like never before. We are extremely grateful to our European colleagues for fruitful cooperation at all levels. Additional funding from the EU will help mitigate the economic consequences of russia's destructive war against our country”, said Sergii Marchenko.

The Macro-Financial Assistance of the EU will be aimed at financing the priority needs of the State Budget and will contribute to maintaining Ukraine's financial stability.

The total amount of EU Macro-Financial Assistance provided to Ukraine will reach EUR 12.21 billion (taking into account the eighth EU Macro-Financial Assistance and the loans already received by Ukraine during 2014-2022 within the framework of the previous seven programs).

On August 1 of this year, Ukraine received the first EUR 500 million as part of the seventh EU Macro-Financial Assistance, and the second tranche of the same program in the amount of EUR 500 million was received on August 2.