Aequo advises the European Commission on granting of EUR 1 billion Macro-Financial Assistance to Ukraine
On November 30, 2018, the European Commission, on behalf of the EU, approved the disbursement of the first €500 million tranche of the Macro-Financial Assistance (MFA-IV) program to Ukraine, which amounted to a total of EUR 1 billion. With this disbursement, the total Macro-Financial Assistance extended to Ukraine by the EU since 2014 had reached €3.3 billion, the largest amount of any such assistance directed at any non-EU country.
The MFA program was contemplated under the Memorandum of Understanding and the Loan Facility Agreement entered into in September 2018 by Ukraine, as borrower, the National Bank of Ukraine, as agent to the borrower, and the European Union, as lender. Both documents were ratified by the Ukrainian Parliament on November 8, 2018.