EU ambassadors support the provision of 1.2 billion euros in emergency macro-financial assistance to Ukraine

The EU ambassadors supported the European Commission's proposal to provide Ukraine with additional macro-financial assistance worth 1.2 billion euros.

As reported by EP, this is stated in the communiqué of February 11.

This decision means that the proposal can go through the European Parliament under an accelerated procedure.

In order for the decision to grant the package to take effect, a further agreement between the European Parliament and the EU Council is required.

"Continued geopolitical tensions have serious economic consequences for Ukraine. Member States are ready to provide 1.2 billion euros in macro-financial assistance. I am pleased to announce that we have now supported the European Commission's proposal that Ukraine is able to receive this financial assistance as soon as possible," said Bruno Le Maire, Minister of Economy of France, who currently holds the presidency of the Council of the EU.

It is planned to provide assistance in two tranches. The first, subject to political preconditions and satisfactory implementation of the IMF program, will be provided shortly after the decision is approved, following the entry into force of the Memorandum of Understanding between the European Commission and Ukraine on concrete steps to receive the next tranche.

The disbursement of the second tranche will depend on the satisfactory implementation of the IMF program and the measures set out in the memorandum. It is expected that these will be "comprehensive," short-term steps in the highest priority areas, such as strengthening economic stability, strengthening the rule of law and energy.