Ukraine received €2 billion in macro-financial assistance from the EU

Ukraine received the first €2 billion under the EU’s exceptional eighth macro-financial assistance program (MFA). Government portal reports about it. As the Ministry of Finance noted, the total funding under this program is $5 billion.

According to Minister of Finance Serhiy Marchenko, since the beginning of the full-scale military invasion of the Russian Federation, Ukraine has already received €4.2 billion in macro-financial assistance from the European Union.

“Preferential financing will help to support the Ukrainian economy and to ensure the financing of priority expenses, in particular, social and humanitarian expenses,” he noted.

Obtaining credit funds will contribute to maintaining financial stability in the country. The state will receive the next tranches under the eighth EU macro-financial assistance program by the end of 2022.

The decision to allocate additional financial support resources to Ukraine through the introduction of a new (exceptional) program of macro-financial assistance in the amount of $5 billion was announced by the European Commission on September 7. In October, the signing of the Memorandum of Understanding and the Credit Agreement between Ukraine and the EU regarding the receipt of the specified funds was completed.

As GMK Center reported earlier, the country’s needs for additional financing in 2023 reach $3.5 billion of international support per month. This was stated by Minister of Finance, Serhiy Marchenko, at a meeting with the IMF’s heads.

Also, the Cabinet of Ministers, at a meeting on October 14, 2022, approved a resolution on providing preferential loans to enterprises that suffered as a result of the war. Enterprises that lost their production facilities due to the war will be able to receive up to UAH 60 million in soft loans. It is about facilities that were destroyed, damaged or located in the occupied territories.