European Union allocates €500 million of macro-financial assistance to Ukraine

The European Union allocated 500 million euro of the first tranche of macro-financial assistance to Ukraine, stated Vice-President of the European Commission Valdis Dombrovskis on Twitter. He also noted that the European Union continues to actively support Ukraine.

Later, a source in the Ministry of Finance confirmed that money has been transferred to Ukraine.

On November 16, Ukraine completed the ratification of the agreement on receiving 1 billion euro from the EU. The allocation of macro-financial assistance hinged on the implementation of the IMF program. On November 30, the European Commission approved the allocation of 500 million euro.

This will be the fourth program of macro-financial assistance to Ukraine. The first two were opened in 2014 and 2015 whence the European Commission allocated to Ukraine 1.61 billion euro. Another 1.2 billion euro were given to Ukraine within the third program in 2015 to 2017. The third tranche was not given due Kyiv’ inability to implement the EU’s requirements.

  EU, Ukraine, European Commission