Ukraine: EU pays further €1.5 billion to support immediate funding needs

The European Commission on 23 October paid a further €1.5 billion under the Macro-financial Assistance +package for Ukraine, worth up to €18 billion. 

With this instrument, the EU seeks to help Ukraine cover its immediate funding needs, with stable, predictable and sizeable financial support in 2023. With yesterday’s payment, Ukraine has so far received €15 billion this year under Macro-financial Assistance +.

This support will help Ukraine to continue paying wages and pensions, and keep essential public services running, such as hospitals, schools, and housing for relocated people. It will also allow Ukraine to ensure macroeconomic stability and restore critical infrastructure destroyed by Russia in its war of aggression, such as energy infrastructure, water systems, transport networks, roads and bridges.

Yesterday’s payment comes after the Commission found on 18 October that Ukraine continued to make satisfactory progress towards implementing the agreed policy conditions and complied with reporting requirements, which aim to ensure the transparent and efficient use of the funds. 

Since the start of the war, EU support to Ukraine and Ukrainians has amounted to almost €83 billion. This includes financial, humanitarian, emergency budget and military support to Ukraine from the EU, Member States and the European financial institutions, as well as resources made available to help Member States cater for needs of Ukrainians fleeing the war. 

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Press release