EU-Ukraine: Commission proposes further € 1.8 billion in macro-financial assistance

Yesterday, the European Commission proposed new macro-financial assistance (MFA) to Ukraine of up to €1.8 billion in medium-term loans. The new MFA programme, which is to be approved by the European Parliament and the Council of Ministers of the EU, is intended to assist Ukraine economically and financially with the critical challenges the country is facing, such as a weak balance of payments and fiscal situation. The intention is also to help the new reform-orientated government strengthen the country and deal with economic and political challenges. The macro-financial assistance proposed yesterday will be linked to certain reform actions. European Commission President Jean-Claude Juncker said: “Ukraine is not alone. Europe stands united behind Ukraine and the reform agenda of the new government. Our actions speak louder than our words. The European Union has provided unprecedented financial support and today’s proposal proves that we are ready to continue providing that support. This is European solidarity in action. As always, solidarity goes hand in hand with commitment to reform, which is urgently needed in Ukraine. We want to help the Ukrainian government to put its reform agenda into practice and trigger real change for the country and its people.”