President of the European Commission Ursula von der Leyen announced that the EU was providing a new €1.5 billion tranche of macro-financial assistance to Ukraine as part of the annual €18 billion package.
"Today we are providing another €1.5 billion to Ukraine under our annual macro-financial assistance package. We will continue helping Ukraine resist Russia’s aggression, keep its institutions and infrastructure running, and conduct crucial reforms," she wrote.
Context. In December 2022, the European Parliament approved the allocation of €18 billion in financial assistance to Ukraine in 2023.
The long-term, highly concessional loan is provided to fund essential public services, including the maintenance of hospitals, schools, and housing, as well as to ensure macroeconomic stability and restore critical infrastructure in Ukraine, which suffers from continual Russian attacks.