By Burc Eruygur
ISTANBUL (AA) - Ukraine's premier announced on Monday that his country signed a memorandum of understanding with the EU to provide €18 billion ($19.4 billion) in macro-financial assistance.
"Ukraine and the EU have just signed a memorandum of understanding to provide €18 billion ($19.4 billion) in macro-financial assistance. We expect to receive a tranche of €3 billion ($3.2 billion) this week. Many thanks to EU Commission President Ursula von der Leyen and EU Commission Executive Vice-President Valdis Dombrovskis. This will help maintain macroeconomic stability going forward," Denys Shmyhal said in a message on Twitter.
In a separate statement, Ukrainian Finance Minister Serhiy Marchenko said these funds will help cover Kyiv's urgent budget needs this year.
On Dec. 10, the European Council adopted an assistance package aiming to enable the EU to help Ukraine financially throughout 2023 with €18 billion ($19.4 billion), which was later approved by the European Parliament on Dec. 14, 2022.
The European Parliament said the money, in line with a European Commission’s proposal, will be used to support essential public services, including running hospitals and schools, and to provide housing for relocated people as well as restoration of critical infrastructure destroyed by Russia.