EC to pay Ukraine last EUR1.5 bln of EU’s EUR18 bln macro-financial assistance for 2023

The European Commission (EC) said on Thursday that it will make the final EUR1.5 billion payment of macro-financial assistance to Ukraine as part of the EUR18 billion package for 2023.

“Today we unlocked the final payment of EUR1.5 billion of macro-financial assistance to Ukraine since the beginning of the year, bringing the total to EUR18 billion for the whole year … We need to continue supporting Ukraine to ensure its economic stability, to reform and to rebuild. This is why we are working hard to find an agreement on our proposal of EUR50 billion for Ukraine between next year until 2027,” EC President Ursula von der Leyen said.

This assistance “will help Ukraine to continue paying wages and pensions, and keep essential public services running, such as hospitals, schools, and housing for relocated people,” the EC statement said. This will also allow Ukraine to “ensure macroeconomic stability and restore critical infrastructure, such as energy infrastructure, water systems, transport networks, roads and bridges,” it said.

The payment was made after the EC said on December 14 that “Ukraine has successfully implemented the agreed policy conditions and complied with reporting requirements, which aim to ensure the transparent and efficient use of the funds.”

“Ukraine has notably achieved important progress to enhance macro-financial stability with the improvement of the bankruptcy and insolvency framework, as well as well as to strengthen the rule of law with for instance the strengthening of the independence of the Specialized Anti-Corruption Prosecutor’s Office,” the EC said.

Overall, EU assistance to Ukraine and Ukrainians has reached almost EUR85 billion since the fighting began in Ukraine, Brussels said. This includes financial, humanitarian, emergency budgetary and military support from the EU, its member states and European financial institutions, as well as resources provided to help EU member states meet the needs of Ukrainian refugees on their territories.

On June 20, 2023, the EC proposed establishing a special fund to provide predictable and flexible assistance to Ukraine for 2024-2027 totaling up to EUR50 billion.


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