Ukraine received €3 billion euros within EU macro-financial aid program

Ukraine received the first tranche in the amount of 3 billion euros within the framework of the macro-financial assistance program for 18 billion euros.

This was reported by the press service of the Ministry of Finance.

"Today, January 17, Ukraine received the first tranche in the amount of 3 billion euros as part of the new large-scale program of macro-financial assistance (MFA) from the EU for 2023. The total volume of soft loans under the specified program reaches 18 billion euros," the message says.

It is noted that the funds are provided on unprecedented preferential terms for Ukraine. The loan repayment period is 35 years. At the same time, interest and other payments for debt service will be paid by EU countries instead of Ukraine.

"The European Union is one of the leaders in supporting Ukraine in the fight against the terrorist country. 3 billion euros of the MFA will help to finance urgent expenses of the state budget and maintain financial stability in the country," said the Minister of Finance of Ukraine, Serhiy Marchenko.

It is expected that the next tranches within the framework of the large-scale MFA program will be delivered to the state budget of Ukraine during 2023 in a rhythmic and predictable manner, taking into account Ukraine's fulfillment of the conditions agreed by the parties.

Since the beginning of the full-scale war, the European Union has provided Ukraine with 10.2 billion euros of macro-financial assistance.

Reference

On December 10, the Council of the European Union supported the European Commission's proposal to allocate additional financial support to Ukraine in 2023. The new macro-financial assistance program for Ukraine will amount to 18 billion euros. It is expected that preferential loan funds will be transferred to the state budget throughout 2023 in equal parts, taking into account Ukraine's fulfillment of the conditions agreed by the parties. On Monday, Ukraine and the EU signed a Memorandum of Understanding on the provision of 18 billion euros in macro-financial assistance.