Credit: European Commission
On Tuesday 25 April 2023, the European Commission announced that it had made a third payment of €1.5 billion under the Macro-Financial Assistance (MFA)+ package for Ukraine, worth up to €18 billion.
According to the Commission, this support will help Ukraine to continue to pay wages and pensions and keep essential public services running, such as hospitals, schools and housing for relocated people. It is also expected to help Ukraine to ensure macroeconomic stability and restore critical infrastructure destroyed by Russian aggression, such as energy infrastructure, water systems, transport networks, roads and bridges.
This new payment came after the Commission found that Ukraine continued to make satisfactory progress towards implementing the agreed policy conditions and complied with reporting requirements, which aim to ensure the transparent and efficient use of the funds. According to the Commission, Ukraine has notably achieved important progress to strengthen the rule of law, enhance financial stability, improve the functioning of the gas system and promote a better business climate. This finding will also enable the disbursement of two further monthly payments of €1.5 billion each in May and June 2023.
Overall, since the start of the war, support to Ukraine and Ukrainians amounts to around €68 billion. This includes financial, humanitarian, emergency budget and military support to Ukraine from the EU, Member States and the European financial institutions, as well as resources made available to help Member States cater for needs of Ukrainians fleeing the war.
European Commission President Ursula von der Leyen said: "Ukraine is successfully repelling Russia's aggression and at the same time driving forward essential reforms for its future. The brave people of Ukraine want their everyday lives to be as normal as possible. With the third tranche of €1.5 billion and a total of €18 billion in Macro-Financial Assistance the EU is making an indispensable contribution to ensure that Ukraine continues paying wages and pensions, keeps hospitals and schools running and is able to restore its infrastructure."
