Yuriy Draganchuk Participated in the Seminar on 30 years Anniversary of Macro-Financial Assistance Program

On November 16, the Deputy Minister of Finance of Ukraine for European Integration Yuriy Draganchuk was one of the main speakers at the online seminar held within the framework of the 30th anniversary of the EU Macro-Financial Assistance Program.

Elena Flores, Deputy Director-General at DG ECFIN in European Commission, Katarina Mathernova, Acting Director, Support Group for Ukraine in European Commission, and Ivanna Vladkova, IMF Mission Chief to Ukraine, also participated in the seminar.

Yuriy Draganchuk spoke about the results of cooperation with the EU with regards to the macro-financial assistance over the past eight years and thanked the representatives of the European Commission for their significant support.

"Cooperation with the EU has helped restore Ukraine's economy and stabilize the financial situation during the crisis. At the same time the European Union has supported the country with several structural reforms in recent years, particularly in the fields of public finance management, good governance and rule of law, state-owned enterprises, improvement of business climate and sector reforms," Yuriy Draganchuk noted.

On October 25, 2021, Ukraine received from the European Union the 2nd tranche within the EU Fifth Macrofinancial Assistance Programme with a nominal volume of EUR 600 million. The total volume of the macrofinancial assistance for 2014-2021 amounts to EUR 5.01 billion.

Additional information

EU Macro-Financial Assistance is financial aid for partner countries experiencing a balance of payments crisis. This instrument helps stabilize the economy, increase fiscal space, improve debt management and focus on necessary reforms.

Over the 30 years of the EU's macrofinancial assistance program, 27 partner countries have received aid totaling more than EUR 16 billion.