EU steps up support for Ukraine with almost €6 billion to cover its financial needs

The European Commission today disbursed almost €6 billion to cover Ukraine’s financial needs.

The European Commission paid out €4.1 billion, the tenth and final tranche of of its exceptional Macro-Financial Assistance (MFA) as part of the G7-led Extraordinary Revenue Acceleration loan initiative, alongside a fifth regular payment of over €1.8 billion under the Ukraine Facility, for a total of €5.9 billion. Both payments “reaffirm the EU’s role as Ukraine’s largest and most reliable donor,” says a press release by the European Commission.

This disbursement of €4.1 billion today marks the completion of the European Commission’s exceptional MFA programme for Ukraine, totalling €18.1 billion in loans delivered this year. This amount represents the EU’s full contribution to the G7-led Extraordinary Revenue Acceleration (ERA) initiative, which collectively aims to provide nearly €45 billion in urgent financial support to Ukraine. To date, other G7 countries have disbursed an additional €12.8 billion, bringing total ERA loans support to €30.9 billion. 

Both the ERA loans from G7 partners and the Union’s MFA are being repaid through proceeds generated from immobilised Russian sovereign assets held in the EU, under the Ukraine Loan Cooperation Mechanism. 

In addition, the disbursement of over €1.8 billion under the Ukraine Facility aims to enhance Ukraine’s macro-financial stability, strengthen its public administration, and advance key reforms set out in the Ukraine Plan, which is the central instrument guiding Ukraine’s reform and investment agenda. This instalment follows Ukraine’s successful completion of nine concrete reform steps under the fifth instalment and one outstanding measure from the previous instalment, as assessed by the Commission and endorsed by the Council on 4 November.  

With these disbursements, total EU support to Ukraine has now surpassed €187 billion since the start of Russia’s war of aggression.   

Find out more

Press release