EU allocates a new tranche of macro-financial assistance to Ukraine for 1.5 billion euros
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The European Union has allocated another tranche of 1.5 billion euros to Ukraine as part of the macro-financial assistance program, President of the European Commission (EC) Ursula von der Leyen said on her page in X (formerly Twitter).
“We support Ukraine in its efforts to restore the state. Today we paid Ukraine a new 1.5 billion euros,” she wrote, promising further support this and next years.
Last November, the European Parliament approved a financial assistance package for Ukraine from the European Union for up to 18 billion euros for 2023. Most of this assistance will be allocated in the form of loans with a 10-year grace period, which are planned to be paid quarterly. It is expected that the amount of 18 billion euros in loans and grants will cover about half of the Ukrainian budget deficit in 2023. The last tranche was allocated at the end of July.
In June, von der Leyen announced the provision of 50 billion euros to Kyiv for the restoration of the country for 2024-2027. Later, the EC clarified that in order to receive funding, Ukraine must adopt a plan for the reconstruction of the country, including introducing the reforms necessary for joining the European Union. The Ukraine Assistance Fund will consist of 17 billion euros in grants and 33 billion euros in loans.
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