Ukraine gets €1.5bn of EU macro-financial assistance

The European Union on Monday disbursed the ninth tranche of macro-financial assistance to Ukraine of EUR 1.5 billion, Ukrainian prime minister Denys Shmyhal said in a statement.

The EU's macro-financial support this year has already reached EUR 15 billion, which is "one of the most important factors that helps Ukraine to be economically strong and sustainable," Ukraine’s PM posted on Telegram.

The tranche is provided on favourable terms, with the 35-year repayment period and the EU countries paying interest and other dues.

Ukraine is due to receive two more tranches from the European Union by the end of the year.

Mr Shmyhal said that he hopes the European Union will provide another EUR 18 billion in financial assistance next year.

Last year, the EU and Ukraine agreed on a EUR 18 billion macro-financial assistance package for 2023, designed to cover Ukraine's state budget deficit.

And in June, the European commission proposed to create a special funding instrument of around EUR 50 billion to provide consistent and predictable support to Ukraine for the period 2024-2027.