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KYIV. Nov 22 (Interfax-Ukraine) – President of the European Commission Ursula von der Leyen announced the provision of the next disbursement of EUR 1.5 billion in assistance for Ukraine to maintain the economic stability of the country.
“Europe’s funding has supported Ukraine’s economic stability and public services since the start of Russia’s war. Today we disburse a new EUR 1.5 billion. Our support to Ukraine has now reached EUR 85 billion,” she wrote on the X social network on Wednesday.
At the same time, the President of the European Commission announced continued financial support for Ukraine in the future. “More will come. We have proposed EUR 50 billion for Ukraine until 2027,” von der Leyen wrote.
According to the press service of the EU Delegation to Ukraine, the funds were paid as part of the Macro-financial Assistance + package for Ukraine worth up to EUR 18 billion. With this instrument, the EU seeks to help Ukraine cover its immediate funding needs, with stable, predictable and sizeable financial support in 2023. With today’s payment, Ukraine has so far received EUR 16.5 billion this year under Macro-financial Assistance +.
“This support will help Ukraine to continue paying wages and pensions, and keep essential public services running, such as hospitals, schools, and housing for relocated people. It will also allow Ukraine to ensure macroeconomic stability and restore critical infrastructure destroyed by Russia in its war of aggression, such as energy infrastructure, water systems, transport networks, roads and bridges,” the press service said.
The Commission made the payment after the Commission found on 18 October 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. Ukraine has notably achieved important progress to enhance financial stability with the phasing out of temporary emergency taxation, as well as to strengthen the rule of law with, for instance, the restoration of the functioning of the High Council of Justice and High Qualification Council of Judges. Ukraine has also made significant advances towards improving its energy system with the restructuring of the Gas Transmission System Operator, and towards promoting a better business climate.
