The European Parliament has agreed to provide additional financial support to Ukraine by launching a new € 1.2 billion emergency macro-financial assistance program.

The decision to provide financial assistance was made in an unprecedentedly short time. Next, macro-financial assistance must be approved by the Council of the European Union.

It should be noted that yesterday the Minister of Finance Sergii Marchenko held a meeting with the Ambassadors of the G7 and the EU, where he personally thanked the friends of Ukraine for the decision to provide macro-financial assistance.

"I am very grateful to you for the strong support we receive. This is important for us! The unprecedentedly quick decision to provide EU macrofinancial assistance to Ukraine is not only a contribution to the state's macrofinancial stability but also a strong signal to international markets. We still have several problematic issues, such as limited access to international capital markets. But direct financial aid and over-performance of budget revenues allow us to feel quite confident," said Sergii Marchenko.

It should be noted that on January 24, 2022, the European Commission announced the allocation of additional resources of financial support to Ukraine in the amount of EUR 1.2 billion. The first tranche of such assistance will amount to EUR 600 million and is unconditional. Ukraine will receive the second tranche after the implementation of short-term measures agreed by the parties on the pursuing of structural reforms.

EU macro-financial assistance will be used to maintain financial stability in Ukraine.