Economy 2024-02-15T05:09:06+02:00
Ukrainian news
EU Council Approves Allocation Of EUR 5 Billion In Macro-Financial Assistance To Ukraine

EU Council Approves Allocation Of EUR 5 Billion In Macro-Financial Assistance To Ukraine

Ukraine, EU, EU Council, macro-financial assistance, EU macro-financial assistance
HELP UKRAINIAN NEWS

The Council of the European Union approved the allocation of macro-financial assistance to Ukraine in the amount of EUR 5 billion. This is stated in the message of the Council of the EU, Ukrainian News Agency reports.

"Today, the Council officially adopted a decision to urgently provide Ukraine with EUR 5 billion of additional macro-financial assistance," the statement reads.

This macro-financial assistance will be provided to Ukraine in the form of long-term loans on preferential terms.

It is noted that this amount is intended to support Ukraine's macro-financial stabilization, strengthen the country's stability and support its ability to recover, it will contribute to the acceptability of Ukraine's public debt and its ability to repay financial obligations.

This is the second stage of implementation of the planned EU macro-financial assistance to Ukraine in the amount of EUR 9 billion.

Today's decision provides the EU budget with the means to absorb the risk of losses on these additional loans, as well as on the EUR 1 billion loan that was disbursed in two tranches on August 1 and 2.

It is also noted that this decision should be immediately followed by the adoption of the next decision on the implementation of the third stage of the planned macro-financial assistance of the Union for an additional amount of up to EUR 3 billion, as soon as the structure of this assistance is determined.

As Ukrainian News Agency earlier reported, on September 7, the European Commission proposed to allocate EUR 5 billion of macro-financial assistance to Ukraine, and on September 15, the European Parliament approved it.

At the beginning of August, the European Union directed Ukraine EUR 1 billion of macro-financial aid - part of a large package of support for Ukraine in overcoming the financial consequences of the war, for a total of EUR 9 billion. These funds will help finance priority budgetary needs.

Ukraine expects EUR 12 billion in macro-financial assistance from the EU in 2023.



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