Ukraine received another tranche from the EU for €1.5 billion

The funds will be used to finance priority expenditures of the state budget

Ukraine received the sixth tranche from the EU through large-scale macro-financial assistance (MFA) for 2023 in the amount of €1.5 billion. It is stated in the notification of the Ministry of Finance.

The funds are provided on unprecedented preferential terms for Ukraine and are directed to the financing of priority state budget expenditures. The loan repayment period is 35 years. At the same time, interest and other payments for debt service will be compensated by EU countries instead of Ukraine.

In the current year, Ukraine has already received €10.5 billion in macro-financial assistance from the European Union (the total amount of financing for 2023 under the MFA program reaches €18 billion). The next tranches will come to the state budget during 2023, taking into account the country’s fulfillment of the conditions agreed by the parties.

According to the Minister of Finance Sergiy Marchenko, since the beginning of the full-scale war, the EU has directed €17.7 billion in macro-financial assistance to Ukraine.

«These funds contributed to the maintenance of macroeconomic stability in the country, and also help to finance priority expenditures of the state budget in a timely manner and in full. The EU is a key partner of Ukraine, which continues to play an important role in accelerating our victory and strengthening the country’s economic stability,» he said.

As GMK Center reported earlier, in Ukraine, the government and national business are working together on recovery plan through Ukraine Facility, which will allow receiving €50 billion in financing from the EU for the development of the economy over the next four years. Businesses, in particular, were invited to provide their proposals on the identification of priority sectors of development and programs for their stimulation.