EU and Ukraine sign macro-financial assistance agreement to limit fallout of pandemic

27-07-2020
Photo: European Union
Photo: European Union

The EU has signed a memorandum of understanding with Ukraine on macro-financial assistance (MFA). It is part of the €3 billion MFA package that the Commission proposed for 10 enlargement and neighbourhood partners to help them limit the economic fallout of the COVID-19 pandemic.

The EU has shown solidarity with Ukraine in the face of the pandemic, and has already mobilised an assistance package of €190 million in grants to help Ukraine respond to the health crisis and mitigate the socio-economic impact of COVID-19.

The MFA funds will be made available in the form of long-term loans on highly favourable terms. The funds will contribute to enhancing macroeconomic stability and mitigating the negative socio-economic consequences of the coronavirus pandemic.

The MFA programme for Ukraine consists of two equal instalments totalling €1.2 billion.

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Press release