The European Commission allocated €500 million tranche to Ukraine

The European Commission today allocated the last macro-financial assistance tranche to Ukraine this year, amounting to €500 million.

After this tranche, the total volume of macro-financial support for Ukraine from the EU since the beginning of the Russian war has reached €7.2 billion, said the spokesperson for the European Commission, Verle Nuyts.

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'To extend support for Ukraine, we proposed a macro-financial assistance instrument (MFA+) of up to €18 billion in the form of loans for Ukraine in 2023. The first disbursements are expected as early as the beginning of 2023. Other international partners are also expected to contribute to covering Ukraine's financial needs,' said the European Commission representative.

A few days ago, the EU Council decided to allocate MFA+ of €18 billion for Ukraine in 2023. The money will be provided in the form of low-interest loans. The repayment period is set for 10 years with the possibility of extension, while the guarantees for the loan will be paid from the budget reserves of the European Union.

On December 15, the decision to allocate €18 billion for Ukraine will be voted on in the second reading during the European Parliament plenary session in Strasbourg under an urgent procedure.

The first tranche of €1 billion in macro-financial assistance was received by Ukraine in July. On September 7, the European Commission announced the allocation of €5 billion to Ukraine. Another €3 billion is expected by the end of this year, said Prime Minister Denys Shmyhal.

Since the beginning of the full-scale Russian aggression against Ukraine, the state budget has received the most funds from Western partners.