The European Union Transfers Another €1.5 Bln to Ukraine

by Meifan Honcharuk
Tuesday, August 22, 2023
The European Union Transfers Another €1.5 Bln to Ukraine

Ursula von der Leyen announced the new aid macrotranche for Kyiv

On August 22, this was reported by the head of the European Commission. Ukraine received €1.5 billion as part of the macro-financial assistance program for 2023. The total amount of the approved program is €18 billion, of which Ukraine has already received €12 billion. The European Union provides money on favourable terms – the EU countries pay the interest rate instead of Ukraine. The loan is issued for 35 years. 

"We support Ukraine in its efforts to restore and support the functioning of the state. Today we have transferred another €1.5 billion to Ukraine. And there will be more this year and later," wrote Leyen on Twitter.

Ukrainian prime minister Denys Shmyhal acknowledged receiving financial support and thanked Europe for it. The amount received will be used to finance the state budget. It is known that these will be priority areas: payment of pensions, social assistance to migrants, persons with disabilities, restoration of essential facilities and compensation to the people affected by the Russian full-scale invasion. 

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