European Council adopts a decision to provide Ukraine with macro-financial assistance of EUR 1.2 billion

Today, the Council of the European Union has agreed to disburse additional financial support resources to Ukraine by providing a new emergency macro-financial assistance operation of €1.2 billion.

"The EU decision on financial support for Ukraine was made in an unprecedentedly short time. We are extremely grateful to our European partners for their trust and significant contribution to ensuring the macro-financial stability of Ukraine," said Minister of Finance of Ukraine Serhiy Marchenko.

The first tranche is unconditional and will be disbursed after entry into force of the Memorandum of Understanding (MoU) on specific structural policy measures and the Loan Agreement.

The disbursement of the second tranche would be linked to the continuous satisfactory implementation of of agreed by the sides short-term measures to pursue structural reforms in the most urgent priority areas, such as strengthening economic resilience and stability, governance and rule of law, and energy.

It should be noted that on January 24, 2022, the European Commission announced the allocation of additional financial support resources to Ukraine in the amount of EUR 1.2 billion. Later, February 16, the European Parliament voted in favor of the disbursement of the abovementioned financial support through launching a new emergency macro-financial assistance program.