EU delivers over €4 billion to Ukraine ahead of Independence Day
The European Union disbursed €4.05 billion to Ukraine on 22 August, ahead of the 34th anniversary of the country’s independence on 24 August. This includes €3.05 billion via the Ukraine Facility and €1 billion through the European Commission’s exceptional Macro-Financial Assistance (MFA).
“The EU sends a clear message: our solidarity with Ukraine is unwavering,” said Ursula von der Leyen, President of the European Commission. “This new funding underlines our commitment not only to Ukraine’s recovery, but to its future as a sovereign and democratic country. Because when Ukraine is strong, Europe is stronger too.”
Over €3.05 billion, paid under the Ukraine Facility, will enhance Ukraine’s macro-financial stability, strengthen its public administration, and drive critical long-term reforms.
With this latest disbursement, total EU support to Ukraine under the Facility has reached €22.7 billion, nearly 60% of the €50 billion in grants and loans pledged to the Facility for the period 2024-2027.
The payment followed the Commission’s assessment that Ukraine has satisfactorily fulfilled 13 reform indicators concerning public administration, management of public assets, human capital, green transition, regulation of the digital and agri-food sectors, and management of critical raw materials.
With a further €1 billion disbursed under the exceptional Macro-Financial Assistance (MFA) loan to Ukraine, the Commission’s total lending to Ukraine under this MFA reached €9 billion since the start of the year and came on top of the assistance provided via other support instruments.
In total, the MFA amounts to €18.1 billion and represents the EU’s contribution to the G7-led Extraordinary Revenue Acceleration (ERA) loans initiative, which collectively aims to provide approximately €45 billion in financial support to Ukraine to cover its urgent needs. The ERA loans from G7 partners, as well as the EU’s MFA loan, are being repaid with proceeds from immobilised assets of the Russian Central Bank, held by central securities depositories in the EU via the Ukraine Loan Cooperation Mechanism.
Since Russia’s full-scale invasion began in February 2022, the EU and its Member States have mobilised €168.9 billion in humanitarian, financial, and military assistance to Ukraine and its people.
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