Ukraine has received the eighth tranche of 1.5 billion euros from the European Union as part of a large-scale macro-financial assistance (MFD) program for 2023, according to the Ukrainian finance ministry.
The MFD program is a form of financial support that the EU provides to partner countries experiencing balance-of-payments difficulties. It is linked to the implementation of a comprehensive reform agenda agreed with the EU, aiming at restoring macroeconomic stability and fostering sustainable growth.
The finance ministry said that the MFD funds are provided on unprecedented preferential terms and are used to finance priority expenditures of the state budget of Ukraine, such as social and humanitarian needs.
“Macro-financial assistance of the EU is a significant contribution to ensuring financial stability and speeding up victory in the war. I am grateful to my colleagues from all EU institutions for their leadership in supporting Ukraine and the rhythmicity in the provision of funds, which helps the Ukrainian state to provide timely and full financing of state budget expenditures, primarily social and humanitarian,” said Finance Minister Serhiy Marchenko.
The ministry added that in 2023, Ukraine has received a total of 13.5 billion euros of preferential loan funds from the MFD program, which has a planned volume of 18 billion euros. The next three tranches are expected by the end of 2023, depending on the level of fulfillment by Ukraine of the structural policy conditions agreed with the EU.
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