European Union announces several major measures to strengthen its support for Ukraine

On 9 April, the European Union took a series of steps to further bolster its support for Ukraine.

The European Commission has disbursed an additional €1 billion tranche of its exceptional Macro-Financial Assistance (MFA) loan to Ukraine, to be repaid with proceeds from immobilised Russian State assets in the EU. This payment brings the total MFA disbursements to Ukraine to €5 billion. The EU’s €18.1 billion MFA forms part of the G7-led Extraordinary Revenue Acceleration (ERA) initiative, which aims to provide around €45 billion in support to Ukraine. 

Also, the Commission announced that this week it will receive €2.1 billion due in windfall profits generated from immobilised assets of the Russian Central Bank, held by the Central Securities Depositories. The proceeds from this tranche will be channelled via the European Peace Facility (EPF) and the Ukraine Facility to help strengthen Ukraine’s defence capabilities and contribute to the country’s recovery and reconstruction. 

In the margins of the Association Council between Ukraine and the EU, five agreements were signed on 9 April.

These include three finance contracts worth €300 million between the European Investment Bank and Ukraine, supporting key operations that address Ukraine’s most pressing recovery needs. The funding will empower local actors to swiftly rebuild essential infrastructure such as water systems and energy-efficient facilities, alleviating pressure on government administration while ensuring effective delivery.

In addition, the Commission signed an agreement on Ukraine’s participation in the Copernicus component and in the Space Weather Events and Near-Earth Object sub-components of the EU Space Programme. The access to the Space Weather service will protect Ukrainian satellites from disruptions caused by space weather events.

Ukraine also signed an agreement on the procurement of medical countermeasures against serious cross-border health threats, which allows all signatories, including the EU and other candidate countries, to jointly procure medical countermeasures. Ukraine will gain faster, fairer and often more affordable access to essential medicines and medical devices, protecting its citizens and patients during health emergencies.

A major business summit co-hosted by the European Commission, the Ukrainian government, the Polish Presidency of the EU Council, and Italy, is also taking place today and tomorrow. The EU-Ukraine Business Summit aims to support Ukraine’s reconstruction and reform efforts, with over 700 stakeholders attending to discuss ways to strengthen the country’s business climate and unlock investment.

On this occasion, European Commissioner Marta Kos and Ukrainian Prime Minister Denys Shmyhal will launch a new EU-Ukraine Business Partnership. This initiative seeks to deepen economic ties between the EU and Ukraine, accelerating the country’s recovery and supporting its path to EU accession and integration into the EU Single Market.

During this event, the European Commission will also announce a new call for expressions of interest, encouraging EU companies and their joint ventures with Ukrainian partners to invest in Ukraine’s reconstruction.

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Press release