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The Council of the European Union Decided to Provide Ukraine with EUR 1.2 billion in Macro-Financial Assistance

Today, February 21, the Council of the European Union decided to provide Ukraine with additional resources of financial support through a new emergency macro-financial assistance program amounting to EUR 1.2 billion.

"The EU's decision on financial support for Ukraine was taken in an unprecedentedly short period. We are very grateful to our European partners for their trust and significant contribution to Ukraine's macro-financial stability," Sergii Marchenko said.

The first tranche will be allocated after the entry into force of the Memorandum of Understanding and the Loan Facility Agreement for Ukraine.

The second tranche will be contingent upon Ukraine's progress in implementation of the short-term measures aimed at the structural reforms in the priority areas: enhancing economic stability and sustainability, rule of law, and energy.

On January 24, 2022, the European Commission announced the allocation of additional financial support for EUR 1.2 billion to Ukraine. Subsequently, on February 16, the European Parliament voted in favor of allocating this financial support by creating a new emergency macro-financial assistance program.