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Shmyhal: EU pays latest tranche of 1.5 billion euros in macro-financial assistance to Ukraine

by Nate Ostiller October 23, 2023 2:30 PM 1 min read
US Treasury Secretary Janet Yellen meets with Ukrainian Prime Minister Denys Shmyhal at the US Treasury Department in Washington, DC, on April 13, 2023. (Stefani Reynolds / AFP via Getty Images)
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Ukraine received another 1.5-billion-euro ($1.6 billion) installment of the European Union’s macro-financial assistance package, Prime Minister Denys Shmyhal announced on Oct. 23.

It was the ninth such package out of a total of 18 billion euros that the European Commission pledged in December 2022. The tranches have been distributed in installments throughout the year, with the previous transfer occurring on Sept. 22.

The European Commission has disbursed 15 billion euros of the package to Ukraine so far in 2023.

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.

Shmyhal also said that Ukraine was in talks with the European Commission to secure a long-term aid package that included 50 billion euros in support.

"The EU's financial support is one of the most important factors helping us to be economically strong," Shmyhal said on Twitter.

Since the beginning of the full-scale invasion, the EU and its member states have provided Ukraine with almost 84 billion euros as of Oct. 16.

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