23 Oct 2023 14:56

Ukraine receives latest tranche of 1.5 bln euros in financial assistance from EU - Prime Minister

MOSCOW. Oct 23 (Interfax) - Ukraine has received the ninth tranche totaling 1.5 billion euros in macroeconomic financial assistance from the European Union, Ukrainian media reported, citing Prime Minister Denis Shmygal.

"Financial support from the EU is one of the most important factors that assists us in being economically strong. Budget support from the EU for Ukraine has already totaled 15 billion euros overall in 2023," Shmygal posted on social media.

As reported, the EU Council in December 2022 approved the decision on 18 billion euros in macro-financial assistance to Ukraine for 2023. EU member countries will cover the bulk of interest expenses.

According to European Commission data, Ukraine will have to repay the loans within 35 years, starting in 2033.

The European Commission allocated the first tranche of assistance to Ukraine totaling 3 billion euros in January. Payments of 1.5 billion euros have been remitted monthly since March, and the previous payment was on September 22.