Ukraine receives first EUR 3 billion tranche of EU macro financial aid

17 January, 05:31 PM
Flags of Ukraine and the European Union (Photo:Dusan_Cvetanovic/pixabay)

Flags of Ukraine and the European Union (Photo:Dusan_Cvetanovic/pixabay)

Ukraine has received the first tranche of EUR 3 billion (about $3.3 billion) of the EUR 18 billion (about $ 19.5 billion) Macro-financial Assistance+ (MFA+) package, the press office of the European Commission reported on its website on Jan. 17.

Future payments within the package of EUR 1.5 billion ($1.6 billion) per month will continue from March, depending on the progress Ukraine makes towards fulfiling the corresponding requirements, and on proper reporting.

"The funding will help Ukraine address its pressing short-term funding needs and is accompanied by reform as well as reporting requirements, so as to ensure the transparent and efficient use of the funds," the European Commission said.

Video of day

Ukrainian President Volodymyr Zelenskyy thanked the EU and the President of the

EU Commission, Ursula von der Leyen, for their support.

"Preserving Ukraine’s financial stability is vital for our joint victory over the aggressor," Zelenskyy said on Twitter.

In December 2022 the European Union approved a package of EUR 18 billion in macro financial assistance for Ukraine.

Ukraine and the EU signed a Memorandum of Understanding in regard to the provision of this funding that entered into force on Jan. 16.

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