The European Union will provide Ukraine with 1.5 billion euros as the second tranche of an 18 billion euro macro-financial assistance package, European Commission Vice President Valdis Dombrovskis said on March 17.
The payment is expected to be made next week, Dombrovskis added, calling it “emergency support to help Ukraine meet immediate needs.”
The European Council agreed on allocating 18 billion euros of macro-financial assistance to Ukraine on Dec. 15. Loan funds will be transferred to the state budget in installments throughout the year.
Ukraine received the first tranche of 3 billion euros on Jan. 17.
The 18 billion euro support package aims to assist Ukraine with paying for essential public services, maintaining macroeconomic stability, and restoring critical infrastructure destroyed by Russian attacks.
On March 14, the EU Council decided to increase the financial ceiling of the European Peace Fund (EPF), from which funds are allocated to purchase weapons for Ukraine, to 7.9 billion euros ($8.4 billion) by 2027.
