The European Parliament Approved EU Macro-Financial Assistance to Ukraine in the Amount of EUR 1 Billion

Today, July 7, 2022, the European Parliament voted to support the European Commission's proposal to provide Ukraine with EU Macro-Financial Assistance to meet urgent budgetary needs in the amount of EUR 1 billion.

Such a decision of one of the key EU bodies was made in an unprecedentedly short time. According to the institutional procedures in the EU, the mentioned proposal of the European Commission must also be supported by the Council of the European Union, after which the relevant decision will enter into force.

On July 1, 2022, the European Commission announced a decision to allocate additional resources of financial support to Ukraine in the amount of EUR 1 billion.

The EU Macro-Financial Assistance will be directed to the financing of priority budgetary needs and, in general, to ensuring financial stability in Ukraine.