Ukraine’s state budget on Tuesday received the sixth tranche of EUR1.5 billion as part of the EU’s large-scale macro-financial assistance for 2023, the Finance Ministry said.
The ministry specified that since the beginning of the year Ukraine has already received EUR10.5 billion of macro-financial aid from the EU out of the total funding of EUR18 billion.
“Since the beginning of the full-scale war, the EU has sent EUR17.7 billion of macro-financial assistance to Ukraine. These funds have contributed to maintaining macroeconomic stability in the country, as well as help finance priority state budget expenditures in a timely and full manner,” Ukrainian Finance Minister Serhiy Marchenko said in the release.
The Finance Ministry recalled that the funds are provided on unprecedentedly favorable terms for Ukraine and are used to finance priority state budget expenditures. In particular, the loan repayment period is 35 years, while interest and other debt service payments will be compensated by the EU countries instead of Ukraine if Ukraine meets the conditions under the program.
The next tranches under the large-scale macrofinancial assistance program will be received by the state budget during 2023, subject to Ukraine’s fulfillment of the conditions agreed upon by the parties, the Finance Ministry said.
As reported, as of July 21 this year, the state budget of Ukraine received funding from international partners in the amount of $23.6bn, compared to $32.1bn last year, while the need for this year is about $42bn.
EUROPEAN UNION, macrofinancial aid
