€1.2 billion emergency macro-financial assistance in the form of loans will be provided to Ukraine by the EU. The aid aims to provide swift support in a situation of acute crisis and to strengthen Ukraine’s resilience.

The adopted emergency macro-financial assistance will have a duration of 12 months and it will consist of two disbursements:

• The release of the first tranche, subject to the political precondition and a satisfactory implementation of the IMF programme, would occur swiftly after the approval of this proposal, upon entry into force of the Memorandum of Understanding (MoU) on specific structural policy measures, to be agreed between the EU and Ukraine.
• The disbursement of the second tranche would be linked to the continuous satisfactory implementation of both an IMF programme and the policy measures agreed in the MoU. The MoU underpinning this emergency macro-financial assistance operation is likely to focus on a limited number of feasible, short-term policy actions in the most urgent priority areas, such as strengthening economic resilience and stability, governance and rule of law, and energy.

Council adopts €1.2 billion assistance to Ukraine