Ukraine received the second tranche of macro-financial assistance from the European Union in the amount of 600 million euros. Funds will be used to finance state budget expenditures and mitigate the negative effects of the COVID-19 pandemic on the economy.

"The 600 million euros tranche from the EU is evidence of a positive assessment of reforms in Ukraine. Our fruitful cooperation with the EU, the IMF, the World Bank and other international partners allows us to implement ambitious projects and continue large-scale modernization of Ukraine to boost economy and support citizens," Denys Shmyhal accentuated.

In order to receive macro-financial assistance, Ukraine has fulfilled its commitments to implement structural reforms, in particular in the areas of public financial management, good governance and the rule of law, improving the business climate, and so on.

The memorandum of understanding on the implementation of the "exclusive" fifth macro-financial assistance program of up to 1.2 billion euros was signed between Ukraine and the European Union in July 2020. Ukraine received the first tranche of EUR 600 million in December last year.