The European Union has fully transferred €1 billion to Ukraine from the new macro-financial assistance package. On Tuesday, August 2, said European Commission President Ursula von der Leyen (Ursula von der Leyen).

“These funds will help Ukraine to meet its urgent financial needs after Russia’s unprovoked and unjustified aggression. One billion euros will strengthen Ukraine at a crucial stage,” she wrote on the social network Linkedin.

Prime Minister Denys Shmygal announced the receipt of the first €500 million of this package to Ukraine the day before, noting that another €500 million is expected on August 2. According to the prime minister, these funds will help “finance priority budgetary needs”.

In total, the EU will allocate 9 billion euros to Ukraine

The decision to provide further macro-financial assistance was taken by the European Parliament and the Council of the EU on 12 July 2022. It is the first part of an exceptional package of macro-financial assistance of up to €9 billion announced in an EC communication dated 18 May 2022 and approved by the European Council on 23 and 24 June 2022.

This billion euros adds to the support the EU has already provided to Ukraine in the first half of the year, including a €1.2 billion emergency loan. Thus, the total volume of macro-financial assistance provided to Ukraine since the beginning of the war reached 2.2 billion euros.

The funds are provided to Ukraine in the form of long-term loans on favorable terms.