Today, on December 21, the State Budget of Ukraine received EUR 1.5 billion from the EU, the last tranche of a large-scale Macro-Financial Assistance program (MFA+) of EUR 18 billion for 2023.
The funds are allocated to meet the priority needs of the State Budget in the social and humanitarian areas.
Ukraine receives financing under the MFA+ on concessional terms with a loan repayment period of 35 years. Interest and other related payments for servicing the loan will be compensated by the EU countries instead of Ukraine.
“In 2023, the European Union is the largest donor of direct budget support. EUR 18 billion covered more than 45% of the external financing needs for the current year. Predictability of financial assistance allowed us to cover urgent budget expenditures in a timely manner and in full. I am extremely grateful to my partners and colleagues from all EU institutions for our joint profound work,” said Minister of Finance of Ukraine Sergii Marchenko.
Since the beginning of the full-scale war, the total amount of budget support from the EU has reached EUR 26 billion.
Sergii Marchenko also added that maintaining the assistance is an important element of a stable financial system in the next year: “We are looking forward to continuing our cooperation within the framework of the European Commission’s initiative to launch the EUR 50 billion Ukraine Facility for 2024-2027.”