On 1 February, the European Commission approved a proposal for a new emergency macro-financial assistance (MFA) programme for Ukraine of up to €1.2 billion.
This proposal follows an earlier request from the Ukrainian authorities and direct discussions between Commission President Ursula von der Leyen and Ukraine’s President Volodymyr Zelenskyy.
The MFA funds will be made available to Ukraine in the form of long-term loans on highly favourable terms. They will contribute to enhancing Ukraine’s macroeconomic stability and overall resilience, in the context of the geopolitical uncertainty caused by Russia’s military build-up in and around Ukraine and its impact on the economic situation.
A swift adoption of this proposal by the Council and the European Parliament will allow the Commission to immediately disburse a tranche of €600 million to Ukraine. The second will be sent following a positive assessment of the progress made by the Ukrainian authorities with the implementation of a limited number of agreed short-term policy measures.
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