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Ukraine receives €500 million of EU macro-financial assistance

December 3, 2014

The European Commission, on behalf of the EU, today disbursed €500 million to Ukraine in the second and final loan tranche of the EU's €1 billion Macro-Financial Assistance (MFA II) programme for the country approved earlier this year. This adds to the €860 million provided so far under the two ongoing MFA programmes, leaving €250 million still available under the earlier MFA programme (MFA I), a press release said. The funding for today's disbursement was raised by the European Commission on financial markets on 26 November.
 
The objective of the MFA programmes is to support Ukraine financially while encouraging important structural reforms aimed at improving governance, delivering sustainable economic growth and supporting legislative harmonisation with the EU. Specifically, the MFA supports reforms in the areas of public finance management and anti-corruption, trade and taxation, the energy sector and the financial sector.
 
"Europe is delivering on its commitment of solidarity to Ukraine,” Commissioner for Economic and Financial Affairs Pierre Moscovici said, adding: “We are providing essential financial support at a time of extraordinary economic and social challenges for the Ukrainian people. In turn, it is vital the country maintain the momentum of reform so as to create the conditions for sustainable prosperity for all Ukrainians."
 
The current EU MFA loan to Ukraine amounts to €1.61 billion. Prior to today's disbursement, three payments under this instrument were made earlier this year: €100 million on 20 May, €500 million on 17 June and €260 million on 12 November. The final disbursement of €250 million is expected to be made by spring 2015, provided that Ukraine shows sufficient reform progress. The assistance is part of a wider package of support for Ukraine announced by the European Commission on 5 March and endorsed by EU leaders at the European Council on 6 March 2014. (EU Neighbourhood Info)
 
Read more
 
Press release
 
EU Neighbourhood Info Centre - EU supporting Ukraine 
  
EU Neighbourhood Info Centre - Building relations with Ukraine: a look back on priorities, activities and achievement under the ENPI (2007-2013)
 
EU Delegation Ukraine
 
Macro-Financial Assistance
 

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