European Parliament endorses EUR 1B in macro-financial assistance to Ukraine

The European Parliament has voted for the European Commission’s proposal to provide EUR 1 billion in the EU macro-financial assistance to Ukraine in order to meet the urgent budgetary needs.

The relevant statement was made by the Ukrainian Finance Ministry, an Ukrinform correspondent reports.

“On July 7, 2022, the European Parliament voted to support the European Commission’s proposal to provide Ukraine with EU Macro-Financial Assistance to meet the urgent budgetary needs in the amount of EUR 1 billion,” the report states.

Such a decision was made in an unprecedentedly short time. According to the institutional procedures in the EU, the European Commission’s proposal must also be approved by the Council of the European Union, after which the relevant decision will come into force.

Ukrainian Prime Minister Denys Shmyhal expressed gratitude to the European Parliament for that decision.

“Grateful to President of the European Parliament Roberta Metsola and Members of the European Parliament for swift adoption of EUR 1 billion in Macro-Financial Assistance for financial stability of Ukraine,” Shmyhal noted on Twitter.

In his words, the EU is Ukraine’s family, and the Ukrainian authorities appreciate such steadfast and unwavering support, helping the country to stand against the Russian aggression.

A reminder that, on July 1, 2022, the European Commission proposed a new macro-financial assistance operation to Ukraine, totaling EUR 1 billion, as the first tranche of the exceptional macro-financial assistance package worth up to EUR 9 billion.

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