15:40 27.10.2022

Ukraine expects EUR2.5 bln of EU macro-financial assistance in Nov, EUR500 mln in Dec - Finance Minister

2 min read
Ukraine expects EUR2.5 bln of EU macro-financial assistance in Nov, EUR500 mln in Dec - Finance Minister

Ukraine expects the next tranche of EU macro-financial assistance in the amount of EUR2.5 billion in November this year, Finance Minister Serhiy Marchenko told Interfax-Ukraine.

"We received EUR3 billion from the macro-financial assistance that we signed for EUR9 billion. Now we expect EUR2.5 billion in November and EUR500 million in December," the finance minister said.

According to him, with regard to another EUR3 billion, there are internal debates in the EU, in what form they should be provided.

"Of course, we say that we need them," Marchenko explained Ukraine's position regarding the said last EUR3 billion of macro-financial assistance.

The updated deadlines for the next tranches of EU macro-financial assistance - EUR2.5 billion in November and another EUR500 million in December - were confirmed on October 26 by Gert-Jan Koopman, Director General of the European Commission's budget department, during a discussion organized by Bruegel.

According to him, the European Commission is already planning to finance Ukraine for the next year according to the targets announced by President Ursula von der Leyen: EUR1.5 billion monthly and EUR18 billion for the whole year, which would cover almost 50% of Ukraine's financial needs announced by the Ministry of Finance.

"Most of the assistance will be in the form of loans. There is an opinion that grant assistance is better. However, it should be emphasized that we are only considering loans with a very long repayment period and a long grace period," Koopman said.

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