EU finally approves EUR 35B macro-financial loan for Ukraine

According to Ukrinform, this was reported by the Hungarian Presidency of the EU on the X network.

“Following the successful conclusion of a written procedure, the Council today adopted a financial assistance package to Ukraine, including an exceptional macro-financial assistance (MFA) loan of up to EUR 35 billion and a loan cooperation mechanism that will support Ukraine in repaying loans for up to EUR 45 billion provided by the EU and G7 partners,” the statement said.

As reported, yesterday the European Parliament adopted a corresponding decision to allocate 35 billion euros of credit assistance to Ukraine as part of a total loan program of 50 billion dollars initiated by the Group of Seven countries. The loan mechanism accompanying this decision stipulates that all loan repayment and servicing payments will be made at the expense of proceeds from the assets of the Russian Central Bank frozen in the EU.