The European Commission has today made a fourth payment of €1.5 billion under the Macro-financial Assistance (MFA)package for Ukraine, worth up to €18 billion. With this instrument, the EU seeks to help Ukraine cover its immediate funding needs, with stable, predictable and sizeable financial support in 2023, according to a press release published on the website of the European Commission.
"This support will help Ukraine to keep on paying wages and pensions and maintain essential public services running, such as hospitals, schools, and housing for relocated people. It will also allow Ukraine to ensure macroeconomic stability and restore critical infrastructure destroyed by Russia in its war of aggression, such as energy infrastructure, water systems, transport networks, roads and bridges.
Today's payment comes after the Commission on the 23 April had found that Ukraine continued to make satisfactory progress towards implementing the agreed policy conditions and complied with reporting requirements, which aim to ensure the transparent and efficient use of the funds. Ukraine has notably achieved important progress to strengthen the rule of law, enhance financial stability, improve the functioning of the gas system and promote a better business climate. This finding will also enable the disbursement of a further monthly payment of €1.5 billion in June.
Overall, since the start of the war, the support to Ukraine and Ukrainians amounts to around €70 billion. This includes financial, humanitarian, emergency budget and military support to Ukraine from the EU, Member States and the European financial institutions, as well as resources made available to help Member States cater for needs of Ukrainians fleeing the war," the statement reads.
“Ukraine is fighting back bravely against Russia's war of aggression. Europe continues to stand by this country. Since the start of this year, we have paid €7.5 billion in macro-financial assistance. This funding is contributing significantly to covering Ukraine's immediate financial needs. And more will come,” President Ursula von der Leyen said.
