BAKU, Azerbaijan, March 3
By Leman Zeynalova – Trend:
The European Commission and Ukraine have signed the Memorandum of Understanding for €1.2 billion macro-financial assistance to the country, Trend reports with reference to the organization.
Since 2014, the EU and financial institutions have mobilized more than €17 billion in grants and loans to support reforms, while applying conditionality dependent on their progress.
In January 2022, the Commission proposed to step up financial support to Ukraine with a new emergency macro-financial assistance (MFA) package of up to €1.2 billion, to help Ukraine face the current economic and geopolitical challenges.
The Commission will also allocate an additional €120 million to Ukraine, significantly increasing its bilateral assistance to Ukraine in grants this year, up from the €160 million that was initially foreseen. This support will strengthen Ukraine’s state-building and resilience efforts.
In addition, the EU will continue to invest in Ukraine’s future, through our Economic and Investment Plan, which aims to leverage up to €6.5 billion in investments over the next years.
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