The Commission today disbursed EUR 1.5 billion under the Macro-Financial Assistance+ package for Ukraine worth up to EUR 18 billion. With this instrument, the EU aims to help Ukraine meet its immediate financing needs with stable, predictable and significant financial support in 2023. With today’s payment, Ukraine has received €12 billion this year under the macroeconomic package financial assistance+.

This support will help Ukraine continue to pay salaries and pensions and keep essential public services open, such as hospitals, schools and housing for displaced people. It will also help Ukraine ensure macroeconomic stability and restore critical infrastructure destroyed by Russia’s war of aggression, such as energy infrastructure, water systems, transport networks, roads and bridges.

Today’s payment comes after the Commission found on 25 July that Ukraine continued to make satisfactory progress in implementing the agreed policy terms and complies with reporting requirements aimed at ensuring transparent and efficient use of the funds. Ukraine has made significant progress in strengthening financial stability and the rule of law, improving the natural gas system, encouraging energy efficiency and promoting a better business climate.

President Ursula von der Leyen said: “We are making every effort to help Ukraine. Today, we committed an additional €1.5 billion to help the country deal with Russia’s brutal war of aggression and work to rebuild its infrastructure. Our support will continue beyond 2023. With the proposed support of up to €50 billion for the period 2024-2027, we will continue to stand resolutely with Ukraine.”

In total, since the start of the war, support to Ukraine and Ukrainian citizens amounts to 76 billion euros. This amount includes financial, humanitarian, emergency fiscal and military support to Ukraine from the EU, Member States and European Financial Institutions, as well as resources available to Member States, helping them meet the needs of Ukrainian citizens trying to escape from the war. More information is available in this newsletter.

On 20 June, the Commission proposed the creation of a special mechanism to provide coherent, predictable and flexible support to Ukraine for the period 2024-2027, totaling up to EUR 50 billion.

Nikos Andritsos