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EU approves disbursement of €500 million in Macro-Financial Assistance to #Ukraine

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The European Commission, on behalf of the EU, has approved the disbursement of the first €500 million of the new Macro-Financial Assistance (MFA) programme to Ukraine.

With this disbursement, the total Macro-Financial Assistance extended to Ukraine by the EU since 2014 will reach €3.3 billion, the largest amount of such assistance directed at any non-EU country. Under the new MFA programme approved by the European Parliament and the Council in July 2018, up to €1bn is available to Ukraine.

The programme helps Ukraine cover its financing needs and supports the implementation of a wide-ranging structural reform agenda.

Euro and Social Dialogue, Financial Stability, Financial Services and Capital Markets Union Commission VicePresident Valdis Dombrovskis said: "The European Union has shown constant political and financial support to Ukraine. The European Commission decision on disbursement comes at a crucial moment when Ukraine and its people face a new aggression from Russia and need to see solidarity from international partners. Such aggressive behaviour is not acceptable in today's Europe."

Economic and Financial Affairs, Taxation and Customs Commissioner Pierre Moscovici added: "Ukraine has fulfilled the policy commitments agreed with the EU for the release of the first payment under the Macro-Financial Assistance programme. This is an important and encouraging signal that Ukraine continues to deliver on reforms despite the current security environment and the upcoming electoral cycle."

A press release is available here.

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