EU approves disbursement of EUR 500 mln in macro-financial assistance to Ukraine.

The EU has now provided Ukraine with EUR 3.8 billion in MFA loans since 2014.

REUTERS

REUTERS

The European Commission, on behalf of the EU, has approved the disbursement of a EUR 500 million loan to Ukraine as part of its fourth macro-financial assistance (MFA) programme.

"Ukraine remains high on the European agenda. We continue political, financial and technical support, especially during this time of crisis, to support Ukraine's reform agenda for building a more resilient economy. Under the EU's fourth macro-financial assistance programme Ukraine has completed necessary reform benchmarks and we are preparing a disbursement of EUR 500 million. As part of helping our neighbours cope with the fallout of the pandemic, we will provide Ukraine with further emergency MFA assistance of EUR 1.2 billion," Valdis Dombrovskis, Executive Vice-President for an Economy that Works for People, also responsible for MFA to Ukraine, said, as reported by the European Commission in a press release on May 29, 2020.

Read alsoUkraine expects US$5 bln IMF loan approval on June 5 – PM Shmyhal

It is noted with this disbursement, the EU has now provided Ukraine with EUR 3.8 billion in MFA loans since 2014. This is the largest amount of MFA the EU has disbursed to any single partner country.

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