EU finally approves EUR 35B macro-financial loan for Ukraine

On October 23, the EU Council finally approved, under a written procedure, a macro-financial loan of 35 billion euros to Ukraine, which will be paid and serviced from the extraordinary proceeds of Russian assets frozen in the EU.

According to Ukrinform, this was reported by the Hungarian Presidency of the EU on the X network.

“Flowing the successful conclusion of a written procedure, the Council today adted a financial assistance package to Ukraine, including an exceptional macro-financial assistance (MFA) loan of up to EUR 35 billion and a loan coeration mechanism that will support Ukraine in repaying loans for up to EUR 45 billion provided by the EU and G7 partners,” the statement said.

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As reported, yesterday the Eurean Parliament adted a corresponding decision to allocate 35 billion euros of credit assistance to Ukraine as part of a total loan program of 50 billion dlars initiated by the Group of Seven countries. The loan mechanism accompanying this decision stipulates that all loan repayment and servicing payments will be made at the expense of proceeds from the assets of the Russian Central Bank frozen in the EU.

Source: ukrinform.net

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