Ukraine will receive macro-financial support for 1.2 billion euros


The amount of macro-financial support will be divided into two phases of EUR 600 million

Ukraine will receive macro-financial support for 1.2 billion euros. Photo:

Valdis Dombrovsky, executive vice president of the European Commission, Kirill Shevchenko, head of the National Bank, and Ukraine’s Finance Minister Serhi Marchenko signed a memorandum and loan agreement with the European Union on receiving macro-financial support for Ukraine in the amount of 1.2 billion euros .

According to the NBU’s website, the amount of macro-financial aid will be split into two parts of EUR 600 million, which will be used to support the state budget and replenish Ukraine’s international reserves.

Earlier, the European Commission stated that the independence of the National Bank of Ukraine is a common condition of the European Union to provide 1.2 billion euros of macro-financial support to Ukraine.

In 2014–2020, Ukraine and the European Union implemented four macro-financial aid programs. As a result, Ukraine received 3.81 billion euros.

The NBU reminded that the macro-financial assistance provided to the country for 15 years is a special financial instrument of the European Union to stabilize the financial and economic system. The instrument is available to fellow European Union countries and supplements the financial support provided to the country by the IMF.

The interest rate is set outside the European Commission, a higher credit rating (AAA) for the foreign lending market to receive funds will be transferred to Ukraine at the same credit rate.

The country’s central bank usually acts as an agent of the borrowing country and opens an account in euros, to which funds will be transferred to the European Union’s respective installments of macro-financial aid.

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Earlier we wrote that within the framework of immediate assistance to the countries of the Eastern Partnership, Ukraine will receive 190 million euros from the European Commission. Financial aid is about building community resilience to help vulnerable people, switching to online education, fighting misinformation and promoting cultural diversity and online creativity.

In addition, the EU delegation to Ukraine announced that the European Union is preparing the first support package in the amount of 80 million euros, which will be used to finance the health care system and support the Ukrainian economy. In addition, $ 1.2 million for medical and humanitarian aid to Ukraine was allocated by the US Agency for International Development.

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