Ukraine Gets 500-Million Euro Financial Aid from European Union

Denys Shmyhal, prime minister of Ukraine, said Ukraine has received 500 million euros as the first tranche of financial assistance from the European Union. Denys Shmyhal said they are grateful to the European Union for such a type of contribution, and it is a significant investment in their common economic, financial stability, and secure future.

The prime minister of Ukraine said his country will now get another tranche of aid worth 500 million euros of a new 1-billion euros macro-financial assistance (MFA) operation for Ukraine. The decision about the MFA was adopted by the European Parliament and the Council on July 12, 2022.

This additional MFA of 1-billion euros is part of the effort by the European Union, with the international community, to Ukraine in addressing its immediate financial needs followed by the unjustified aggression by Russia.

This aid is the first part of the exceptional MFA package of around 9-billion euros announced in the communication of European Commission, and is endorsed by the European Council. The MFA funds have been made available to Ukraine in the form of loans on favourable terms. This assistance also supports macroeconomic stability and resilience of Ukraine in the context of military aggression of Russia, and the growing economic challenges.