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Ukraine Receives EUR 600M in EU Macro-Financial Assistance

Money Ukraine

Ukraine received the second tranche under the fifth EU macro-financial assistance programme with the nominal value of EUR 600 million. The aid is granted as a long-term loan at a 0.250% interest rate due April 2036.

“We are grateful to our partners from the European Union for the long-term support for our country on its path towards economic development and implementation of key reforms. The Ukrainian side met the conditions of the macro-financial assistance programme agreed upon by the parties, which allowed attracting this loan. We continue making active efforts to ensure macro-financial stability and implementation of structural reforms in Ukraine,” Minister of Finance of Ukraine Serhiy Marchenko said.

As a reminder, the main condition to receive the second tranche was the implementation of structural reforms in strengthening the public finance management system, governance, and rule of law; improving the business climate; sectoral reforms; and management of state-owned enterprises.

The received funds will be used to finance budget needs and reduce the financial burden on the budget of Ukraine.

The total amount of the EU credit aid received by Ukraine within the five macro-financial assistance programmes in 2014-2021 reached EUR 5.01 billion.

Background

In July 2020, Ukraine and the EU signed a Memorandum of Understanding on the implementation of the “emergency” fifth macro-financial assistance programme worth up to EUR 1.2 billion. In December 2020, Ukraine received the first tranche with a nominal value of EUR 600 million.

Natalia Tolub

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