20.Jul .2022 10:30

Ukraine, EU sign memorandum on EUR 1B tranche

Ukraine, EU sign memorandum on EUR 1B tranche
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European Commission Vice President Valdis Dombrovskis on Tuesday signed a memorandum of understanding on the allocation of EUR 1 billion in macro-financial assistance to Ukraine.

Dombrovskis wrote this on Twitter, Ukrinform reports.

"Signing Memorandum of Understanding with Ukraine on behalf of the EU to provide EUR 1 billion macro-financial assistance as emergency funding. This will be paid out end-July to support Ukraine's government & people," Dombrovskis said.

He added that Ukraine is an economy at war, adding that "the EU is here to help."

The European Council earlier decided to allocate EUR 1 billion to Ukraine and will continue to work towards providing the remainder of the EUR 9 billion in macro-financial assistance agreed at the EU level.