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Ukraine Will Receive EUR 1 Billion of EU Macro-Financial Assistance

On July 19, the Minister of Finance of Ukraine Sergii Marchenko signed the Memorandum of Understanding between Ukraine and the EU and the Loan Agreement for receiving exceptional Macro-Financial Assistance from the EU in the amount of 1 EUR billion.

It is expected that Ukraine will receive loan funds in the form of a concessional long-term EU loan at the end of July.

"EU Macro-Financial Assistance is a contribution to preserving the macro-financial stability of Ukraine in the conditions of martial law, which will bring our victory closer. We are grateful to the European Union for its systematic political and financial support", - said Minister of Finance of Ukraine Sergii Marchenko.

The assistance will be directed to financing the priority budgetary needs of the state budget.

On July 1, 2022, the European Commission announced a decision to allocate additional financial support resources to Ukraine by providing exceptional EU Macro-Financial Assistance in the amount of EUR 1 billion.  Subsequently, the European Parliament and the Council of the European Union supported this decision.