The European Union has fully provided Ukraine with the first tranche in the amount of EUR1 billion of new emergency new macro-financial assistance, said the head of the European Commission, Ursula von der Leyen.
“These funds will help Ukraine meet its urgent financial needs in the wake of unprovoked and unjustified Russian aggression. The €1 billion will strengthen Ukraine at a critical juncture,” she wrote on Linkedin on Tuesday.
On the eve of the receipt of the first EUR500 million from this tranche in Ukraine, Prime Minister Denys Shmygal announced, adding that the second EUR500 million is expected on Tuesday, August 2.
As reported, the EU has previously approved the allocation of new emergency macrofinancial assistance to Ukraine for EUR9 billion, of which EUR1 billion has been allocated so far. The remaining EUR8 billion is expected to come in one tranche, but the final decision on them is being delayed.
President of Ukraine Volodymyr Zelensky on the eve appealed to French President Emmanuel Macron with a request to unblock macrofinancial assistance from the European Union.
The member states of the European Union have agreed to mobilize the fifth tranche of military assistance in the amount of EUR 500 million in support of the Armed Forces of Ukraine, said head of EU diplomacy Josep Borrell.
“Participated at Ministerial Ukraine Defence Contact Group meeting. EU Member States agreed to mobilise 5th tranche of military assistance of EUR 500 million to further support Ukraine‘s Armed Forces. EU remains focused & steadfast in its support for Ukraine, together w partners,” Borrell said on Twitter Wednesday evening.
The European Commission has sent Ukraine the second tranche of macro-financial assistance in the amount of EUR600 million under the emergency assistance program, said EC President Ursula von der Leyen.
“Today we paid Ukraine a new tranche of macro-financial assistance in the amount of EUR600 million,” she wrote on Twitter on Friday.
“We have also offered an additional loan of EUR9 billion for Ukraine in 2022,” added von der Läen.
She also noted that the EU will work on a platform for the renewal of Ukraine.
The EU Council was reported to have expeditiously approved a € 1.2 billion macro-financial assistance package in February this year, with two disbursements of the first tranche of € 300 million in March.
The European Union has taken the decisions necessary to provide Ukraine with the second tranche of macro-financial assistance in the amount of EUR 600 million, which Kyiv will receive on May 20.
This was announced on Thursday in Brussels by representative of the European Commission Dana Spinant.
Yesterday, the decision was made to allocate the second part of the urgent macro-financial assistance program for Ukraine and to borrow funds from the capital market. This second part in the amount of EUR 600 million and the allocation of this amount is expected by May 20, she said.
Prime Minister Denys Shmyhal says that Ukraine expects the first EUR 300 million tranche of macro-financial assistance from the European Union next week, and the second one a week later.
“Next week we expect the first tranche of EUR 300 million of macro-financial assistance from the European Union, which has provided us with EUR 1.2 billion urgently. A week later, the second tranche will be allocated,” Shmyhal said in his address on Wednesday evening.
Ukraine expects to receive the first tranche of macro-financial assistance in the amount of EUR 600 million in late March-early April, Finance Minister Serhiy Marchenko has said.
“The first tranche of such assistance will amount to EUR 600 million and is unconditional. We hope to receive these funds at the end of March or beginning of April this year,” Marchenko said, speaking from the parliament rostrum during an hour of questions to the government on Friday.
“Ukraine will receive the second tranche after the parties approve short-term measures regarding the introduction of structural reforms, which the teams of the European Commission and the Ministry of Finance are currently working on,” the minister added.
He called the allocation of macro-financial assistance to Ukraine unprecedentedly fast.
“The Ministry of Finance is also negotiating with the government of Japan regarding the formation of a mechanism for involving the Japanese international cooperation agency JICA in a new ‘green’ program with the World Bank on a development policy loan, the so-called green DPL,” Serhiy Marchenko said.
He explained that the possibility of attracting from $500 million from the World Bank and up to $300 million from the Japanese government was being discussed.
Earlier, the European Parliament voted in favor of the proposal of the European Commission to provide Ukraine with new macro-financial assistance in the amount of EUR 1.2 billion.
