Ukraine receives EUR 1.5 billion in macro-financial assistance from EU
On December 21, Ukraine's State Budget received EUR 1.5 billion from the EU. This is the last tranche under a large-scale macro-financial assistance program of EUR 18 billion for 2023
This was reported by the Ukrainian Ministry of Finance.
The funds received under the Macro-Financial Assistance (MFA+) program are allocated to the priority needs of the state budget in the social and humanitarian spheres.
Ukraine receives this financing on preferential terms with a loan repayment period of 35 years. Interest and other related payments for servicing the loan will be compensated by the EU countries instead of Ukraine.
“In 2023, the European Union is the largest donor of direct budget support. EUR 18 billion covered more than 45% of the external financing needs for the current year. Predictability of financial assistance allowed us to cover urgent budget expenditures in a timely manner and in full. I am extremely grateful to my partners and colleagues from all EU institutions for our joint profound work,” said Minister of Finance of Ukraine Serhii Marchenko.
The minister added that Ukraine looks forward to continuing cooperation within the framework of the European Commission's initiative to launch a €50 billion Ukraine Facility for 2024-2027.
"We must find an agreement to continue to provide Ukraine with the support it needs to recover, rebuild and reform. We stand by our neighbor, friend and future member," European Commission President Ursula von der Leyen wrote on the social network X (formerly Twitter), announcing the next tranche of macro-finance.
- Since the beginning of the full-scale war, the total amount of budget support from the EU has reached EUR 26 billion.