Ukraine to receive first tranche of EUR18B assistance from EU as early as this week

Ukraine to receive first tranche of EUR18B assistance from EU as early as this week

Ukraine will receive the first EUR3 billion tranche of the EUR18 billion macro-financial assistance from the European Union later this week.

That’s according to a tweet by European Commission’s Executive Vice-President Valdis Dombrovskis, Ukrinform reports.

“Honoured to sign MoU on behalf of the EU to provide Ukraine with EU financing in 2023 – up to EUR18 bln in loans. First payment of EUR3 bln to follow later this week. This will help Ukraine cover its pressing needs – with stable flow of payments throughout year,” Dombrovskis tweeted.

According to Ukraine’s Prime Minister Denys Smyhal, “Ukraine and the EU have just signed a Memorandum of Understanding to provide EUR18bn in macro-financial assistance. We expect to receive a tranche of EUR3bn this week.”

Read also: Dutch Foreign Minister: Ukraine needs more military support, more weapons

As reported earlier, the Council of the European Union on December 10 supported the European Commission's proposal to allocate additional financial support resources to Ukraine for 2023. The new program of macro-financial assistance for Ukraine will amount to EUR18 billion. It is expected that preferential loan funds will be transferred to the state budget during 2023 in equal parts, given Ukraine fulfills the conditions agreed upon by the parties.

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