Council of the EU adopts additional EUR 5B macro-financial assistance to Ukraine

“The European Union stands by Ukraine. We deliver on our promises and help ensure that the Ukrainian state and its key infrastructure can continue to function despite Russia’s war of aggression. At the next Ecofin meetings, I will push for a swift agreement on the provision of the remaining EUR 3 billion, for which we must also agree on the division of this amount into loans and grants,” Zbyněk Stanjura, Minister of Finance of the Czech Republic, chairing the Council of the EU, noted.

This EUR 5 billion macro-financial assistance will be provided to Ukraine in the form of highly concessional long-term loans. It constitutes the second stage in the implementation of the planned full EU’s exceptional macro-financial assistance to Ukraine for up to EUR 9 billion, announced by the European Commission in its communication of May 18, 2022 and endorsed by the European Council on June 23-24, 2022.

Ukrainian Prime Minister Denys Shmyhal expressed gratitude to the Council of the European Union for that decision.

“Today the Council of the European Union adopted EUR 5 billion macro-financial assistance to Ukraine. Grateful to EU member states for unity in supporting Ukraine. Each of your votes is a significant contribution to our joint victory. A package of EUR 9 billion until the end of the year is a guarantee of this,” Shmyhal wrote on Twitter.

A reminder that the Ukrainian Finance Ministry stated earlier that EUR 5 billion provided by the EU in macro-financial assistance to Ukraine would be used to finance the urgent state budget needs and maintain Ukraine’s financial stability.