European Parliament Greenlights EU Macro-Financial Assistance to Ukraine Worth EUR 1B

The European Parliament voted for the European Commission’s proposal to provide Ukraine with EU macro-financial assistance to meet urgent budgetary needs totalling EUR 1 billion.

Such a decision of one of the key EU bodies was made in an unprecedentedly short time. According to the institutional procedures in the EU, the mentioned proposal of the European Commission must also be supported by the Council of the European Union, after which the relevant decision will enter into force.

As a reminder, on 1 July 2022, the European Commission announced a decision to allocate additional resources of financial support to Ukraine in the amount of 1 billion euros.

The EU macro-financial aid funds will be directed to finance priority budgetary needs and, in general, to ensure financial stability in Ukraine.

Natalia Tolub