Ukrainian President Volodimir Zelenski confirmed Tuesday that Kiev has received the first €3 billion tranche of a €18 billion European Union (EU) macro-financial assistance package for 2023, following Monday’s announcement of the support program in the midst of the Russian invasion.
«Ukraine has received the first €3 billion of the €18 billion macro-financial program. I am grateful to the EU and (European Commission) President Ursula von der Leyen for the strong support. Preserving Ukraine’s financial stability is vital for our joint victory over the aggressor,» he said in a message on his account on the social network Twitter.
Commission Executive Vice-President Valdis Dombrovskis on Monday signed the memorandum of understanding with Ukraine setting out all the conditions of the 18 billion economic support package for Kiev, which was formally adopted by the EU-27 last December. «This will help Ukraine meet its most pressing needs with a stable flow of payments throughout the year,» he said.
This package takes the form of concessional loans and is conditional on far-reaching reforms by Kiev, although Brussels has shown great flexibility with Ukraine in the context of the Russian invasion. In December, the proposal was rejected by Hungary, which finally approved the package after a negotiation in which the EU-27 agreed to reduce the amount of cohesion funds frozen to the Hungarian government for lack of progress in the fight against corruption and the rule of law.
Source: (EUROPA PRESS)
