Ukraine received the first tranche of EU financial assistance for 9 billion euros
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The Ukrainian authorities received the first tranche of 500 million euros as part of the macro-financial assistance of the European Union, the second tranche of assistance from the first package of 1 billion euros is expected tomorrow, informed Prime Minister of Ukraine Denys Shmyhal in his Telegram channel. In total, the EU will allocate 9 billion euros to Ukraine.
“The European Union has sent Ukraine 1 billion euros of exceptional macro-financial assistance. The first tranche of 500 million euros has already been credited to the NBU account. We expect the second tranche to arrive tomorrow. The €1 billion is part of a large €9 billion support package for Ukraine to overcome the financial consequences of the war. The funds will help finance priority budgetary needs,” Shmyhal said.
On July 12, the Council of the European Union at the level of Ministers of Economy and Finance approved a loan to Ukraine in the amount of 1 billion euros under the program of emergency macro-financial assistance to the country. The country, in their opinion, urgently needs short-term funding, and the EU is “ready to help.” On May 18, the European Commission announced the preparation of an emergency program of macrofinancial lending to Ukraine in the amount of 9 billion euros under EU guarantees until the end of 2022. The package of 1 billion euros will be the first tranche under this program.
July 7 Bloomberg informed citing sources that the budgetary division of the European Commission blocked a loan for Ukraine in the amount of 1.5 billion euros from a package of 9 billion euros due to concerns about its financial reliability. On July 10, Corriere della Sera reported that the German authorities had been blocking the adoption of a €9 billion EU aid package for Ukraine for more than a month. This, according to the publication, could be the reason for the departure of Andriy Melnyk from the post of Ambassador of Ukraine to Germany.
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