EU allocates another €1.5 billion in macro-financial assistance to Ukraine

The European Union has allocated another tranche of €1.5 billion to Ukraine as part of an €18 billion macro-financial assistance program.

European Commission President Ursula von der Leyen said this on Twitter, Ukrinform reports.

"Today we disburse another €1.5 bn for Ukraine in macro-financial assistance. We help keep Ukraine’s services and infrastructure afloat in its brave fight for freedom. More will come. We just proposed steady financial support until 2027. We are in it for the long haul," the statement reads.

As reported, 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 concessional loans will be disbursed to the state budget in equal installments throughout 2023, subject to Ukraine's fulfillment of the conditions agreed upon by the parties. On January 16, Ukraine and the EU signed a Memorandum of Understanding to provide €18 billion in macro-financial assistance.

On January 17, Ukraine received the first tranche of €3 billion under the macro-financial assistance program. The second tranche of €1.5 billion was disbursed in March.