EU seeks solution to provide Ukraine with EUR 8 bln MFA – European Commission
The EU has already allocated EUR 1 billion of up to EUR 9 billion promised in May 2022 in macro-financial assistance (MFA) to Ukraine, and the European Commission is working on the issue of paying the rest, European Commission spokeswoman Veerle Nuyts said at a briefing in Brussels on Tuesday.
As for the rest, there are technical discussions with Member States under the mandate of the European Council, she said. There is a general sense of urgency to find a good concept for the remaining amount of this aid, she added.
When the Commission approves the relevant proposals, they will have to be considered and approved by the European Parliament and the EU Council, the European Commission representative explained.
She was asked if the European Commission is not giving more details about this assistance because Member States are still expected to provide additional guarantees for allocated loans. She declined to answer the question, repeating that there are technical discussions going on and the Commission is working hard to find a solution.
In a communication from the European Commission dated May 18, 2022, an exceptional package of macro-financial assistance to Ukraine of EUR 9 billion was announced. This proposal was approved by the European Council on June 23-24, 2022.
Early August, the European Commission paid the first EUR 1 billion to Kyiv in two tranches of EUR 500 million.
"This EUR 1 billion payment is a first part of our EUR 9 billion macro-financial assistance package to help Ukraine meet its emergency financial needs," European Commission Executive Vice President Valdis Dombrovskis said on August 1.
"At the same time, we are working closely with the EU Member States and our international partners on the next steps to rebuild Ukraine for the longer term," Dombrovskis added.