The Council of the European Union today formally decided to provide €5 billion of additional macro-financial assistance (MFA) to Ukraine as a matter of urgency.
On 9 September, at an informal meeting of the Ecofin Council in Prague, EU finance ministers agreed to provide an additional €5 billion in assistance for Ukraine. This additional aid was officially approved today after the necessary formal steps were completed in just 11 days.
This financial assistance complements other EU support to Ukraine in the humanitarian, development, customs and defence fields.
This €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 EU’s planned exceptional macro-financial assistance to Ukraine of up to €9 billion, announced by the European Commission this May.
The EU says a decision on the implementation of the third phase of the Union’s exceptional macro-financial assistance of up to €3 billion will be taken shortly, once the structure of this assistance has been determined.
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