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

The European Commission (EC) made on May 23 a fourth payment of 1.5 billion euro under the Macro-financial Assistance (MFA)+ package for Ukraine, worth up to 18 billion euro, the EC said.

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

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

“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.

The May 23 payment comes after the EC found on April 23 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 a further monthly payment of 1.5 billion euro in June.”

Overall, since the start of the war, the support to Ukraine and Ukrainians amounts to about 70 billion euro, the EC said. 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.

(Photo: EC Audiovisual Service)

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