European Commission proposes second €5 billion tranche of macro-financial assistance to Ukraine

The European Commission today proposed a further €5 billion in macro-financial assistance (MFA) loans to Ukraine to help the country address its soaring financial needs following the unprovoked and unjustified aggression by Russia. 

This disbursement will be the second part of the exceptional MFA package of up to €9 billion announced in the Commission’s communication of 18 May 2022 and endorsed by the European Council of 23-24 June 2022. 

The Commission disbursed the first €1 billion of this MFA package in early August. The remaining up to €3 billion will be provided as soon as possible.

Today’s proposal will complement the support already provided by the EU, including a €1.2 billion emergency MFA loan paid out in the first half of the year. Taken together, the two strands of the programme would bring the total MFA support to Ukraine since the beginning of the war to €7.2 billion, and could reach up to €10 billion once the full package of exceptional MFA to Ukraine becomes operational this year.

“Ukraine must win this war: it must regain the freedom and independence it is so courageously fighting for. The EU will continue to do its part to make sure this happens – solidarity will prevail, and peace will come,” said European Commission President Ursula von der Leyen.

The Commission will make available the €5 billion MFA as soon as the European Parliament and the Council approve the proposal.

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Press release