• 14/07/2024 12:58

Ukraine received the first tranche of macro-financial assistance worth 4.5 billion from the EU

On Wednesday, March 20, the state budget of Ukraine received the first tranche within the framework of transition financing in the amount of 4.5 billion euros in accordance with the financial instrument of the European Union Ukraine Facility. This was reported by the press service of the Ministry of Finance of Ukraine.

Ukraine received the first tranche of macro-financial assistance worth 4.5 billion from the EU

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“I am grateful to our EU partners for their leadership in supporting Ukraine and the important decision to allocate the first tranche under the Instrument. The funds raised will help timely and fully finance priority social and humanitarian expenditures of the state budget,” said Finance Minister Sergei Marchenko.

Within the framework of transition financing, Ukraine has 5 reforms on its agenda in the following areas: public administration finance, fight against corruption, development of the business environment, etc.

Ukraine may receive the next tranche of 1.5 billion euros within the framework of transition financing as early as April, based on the results of satisfactory implementation of such reforms and a positive assessment by the European Commission.

Remember

Ukraine Facility is an instrument , providing for the possibility of Ukraine receiving EU financial and technical assistance in the total amount of 50 billion euros in 2024–2027. Of these, 38.27 billion euros will be allocated for budgetary support, an investment fund – 6.97 billion euros, and 4.76 billion euros for technical and administrative support.

Ukraine signed documents with the EU on 6 billion euros transition financing, which will allow Ukraine to receive 4.5 billion euros in March and, if two conditions are met, another 1.5 billion euros in April.

Read: Pyshny expects more than $10 billion in international aid in March-April. Where will the funds come from

The head of the National Bank Andrey Pyshny clarified that this is a loan on preferential terms with a maximum repayment period of 35 years and the beginning of repayment of the principal debt 10 years after the date of transfer of the tranche to the account with the NBU.

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