European Commission disburses first €3 billion to Ukraine of the up to €18 billion Macro-financial Assistance+ ( MFA+) package

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 The Commission has today disbursed a first instalment of €3 billion of the up to €18 billion Macro-financial Assistance+ (MFA+) package for Ukraine. This follows the swift adoption and entry into force of the MFA+ Regulation mid-December 2022, less than two months following the request from the European Council meeting on 20-21 October 2022.

With the stable, regular and predictable financial support of up to €18 billion for 2023 under this instrument, Ukraine will be able to keep on paying wages and pensions and maintain essential public services running, such as hospitals, schools, and housing for relocated people. It will also allow Ukraine to ensure macroeconomic stability and restore critical infrastructure destroyed by Russia in its war of aggression, such as energy infrastructure, water systems, transport networks, roads and bridges.

In comparison to standard MFA operations, and to reflect the current circumstances in Ukraine, this MFA+ instrument offers Ukraine increased flexibility and more favourable borrowing terms. Ukraine will need to repay the highly concessional loans over up to 35 years, starting from 2033. In a further expression of solidarity, the EU has also offered to cover the interest rate costs of Ukraine, supported where needed through additional payments by Member States into the EU budget. 

Future payments to Ukraine under the MFA+ instrument of €1.5 billion per month, will continue as of March and will be conditional on satisfactory progress towards implementing the agreed conditionality, as well as continuous compliance with the reporting requirements.

European Commission

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