EC pays further 1.5B euro macro-financial assistance to Ukraine

The European Commission (EC) said on April 15 it had made a third payment of 1.5 billion euro under the Macro-financial Assistance (MFA)+ package for Ukraine, worth up to 18 billion euro.

“With this instrument, the EU seeks to help Ukraine cover its immediate funding needs, with stable, predictable and sizeable financial support in 2023,” the EC said.

This support will help Ukraine to keep on paying wages and pensions and maintain essential public services running, such as hospitals, schools, and housing for relocated people, the Commission said.

“It will also allow Ukraine to ensure macroeconomic stability and restore critical infrastructure destroyed by Russia in its war of aggression, such as energy infrastructure, water systems, transport networks, roads and bridges.”

The EC said that the April 25 payment comes after the Commission found that Ukraine continued to make satisfactory progress towards implementing the agreed policy conditions and complied with reporting requirements, which aim to ensure the transparent and efficient use of the funds.

“Ukraine has notably achieved important progress to strengthen the rule of law, enhance financial stability, improve the functioning of the gas system and promote a better business climate. This finding will also enable the disbursement of two further monthly payments of 1.5 billion euro each in May and June.”

Overall, since the start of the war, the support to Ukraine and Ukrainians amounts to about 68 billion euro.

This includes financial, humanitarian, emergency budget and military support to Ukraine from the EU, member states and the European financial institutions, as well as resources made available to help member states cater for needs of Ukrainians fleeing the war.

EC President Ursula von der Leyen said: “Ukraine is successfully repelling Russia’s aggression and at the same time driving forward essential reforms for its future. The brave people of Ukraine want their everyday lives to be as normal as possible.

“With the third tranche of 1.5 billion euro and a total of 18 billion euro in Macro-Financial Assistance the EU is making an indispensable contribution to ensure that Ukraine continues paying wages and pensions, keeps hospitals and schools running and is able to restore its infrastructure,” Von der Leyen said.

(Photo: EC Audiovisual Service/ Lukasz Kobus)

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