European Commission makes third payment of EUR 1.5 bln to Ukraine

The European Commission Tuesday announced a third payment of EUR 1.5 billion (USD 1.65 billion) under the Macro-financial Assistance package for Ukraine, which is worth up to EUR 18 billion (USD 19.8 billion).

This support will help Ukraine to keep on paying wages and pensions and maintain essential public services running, such as hospitals, schools, and housing for relocated people, it said in a press release.

It will also allow Ukraine to ensure macroeconomic stability and restore critical infrastructure destroyed by Russia, such as energy infrastructure, water systems, transport networks, roads and bridges.

Today’s payment comes after the EU’s executive body said it found that Ukraine continued to make satisfactory progress towards implementing the agreed policy conditions and complied with reporting requirements, which aim to ensure the transparent and efficient use of the funds.

This finding will also enable the disbursement of two further monthly payments of EUR 1.5 billion each in May and June.

Overall, since the start of the war, the EU support to Ukraine and Ukrainians amounts to around EUR 68 billion (USD 74.8 billion).

Source: Kuwait News Agency