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European Commission Proposes a New EUR 1.2 Billion Emergency Macro-Financial Assistance to Ukraine

Today, on January 24, 2022, the European Commission announced the allocation of additional resources of financial support to Ukraine by creating a new emergency macro-financial assistance program of EUR 1.2 billion. The first tranche of such assistance will amount to EUR 600 million. The European Commission's decision needs to be supported by the Council of the European Union and the European Parliament.

"We are grateful to our partners from the European Union for their support for Ukraine, which will help to ensure macro-financial stability. The decision to launch the new EU macro-financial assistance program is another evidence of the high level of a strategic partnership with the EU and confidence in our country and effective cooperation in recent years",  Minister of Finance of Ukraine Sergii Marchenko said.

The EU macro-financial assistance will be used to maintain financial stability in Ukraine.

According to the mentioned decision of the European Commission, the EU will provide additional grants in the amount of EUR 120 million in 2022 to support reforms and public policy in the key areas.

On 25 October 2021, Ukraine received from the European Union the 2nd tranche within the framework of the 5th EU macro-financial assistance program in the nominal amount of EUR 600 million.

The total amount of concessional EU financial assistance received by Ukraine as part of five macro-financial assistance programs during 2014-2021 reached more than EUR 5 billion.