On August 6, the Council of the European Union approved the allocation of €4.2 billion under the Ukraine Facility macro-financial assistance program, Hromadske reports.
This was reported by the Hungarian presidency of the EU Council.
They noted that this decision supports the macro-financial stability of Ukraine and the functioning of its public administration.
The Ministry of Finance of Ukraine also noted that the funds will be used for priority social and humanitarian expenditures of the state budget.
I am grateful to the European Union for the positive assessment of the work done by the [Ukrainian] government and for understanding the needs of Ukraine. The EU has been the largest donor of external financing since February 24, 2022. International assistance plays a crucial role in ensuring budget liquidity and maintaining macro-financial stability in times of uncertainty, – commented Sergii Marchenko, Minister of Finance of Ukraine.
The press service of the EU Council stated that Ukraine has fulfilled the necessary conditions and reforms envisaged in the Ukraine Plan to receive the funds.
These reforms include public financial management, management of state-owned enterprises, business environment, energy and demining.
The EU Council also emphasized the importance of disbursing funds as soon as possible due to the difficult financial situation in Ukraine.
