The European Union Friday paid another EUR 1.5 billion (USD 1.6 billion) instalment under the Macro-financial Assistance package for Ukraine, worth up to EUR 18 billion (USD 19 billion).
With this instrument, the EU seeks to help Ukraine cover its immediate funding needs, with stable, predictable and sizeable financial support in 2023, said a European Commission statement.
With today's payment, Ukraine has so far received EUR 13.5 billion (USD 14.4 billion) this year.
This support will help Ukraine continue paying wages and pensions, and keep essential public services running, such as hospitals, schools, and housing for relocated people.
It will also allow Ukraine to ensure macroeconomic stability and restore critical infrastructure destroyed by Russia, such as energy infrastructure, water systems, transport networks, roads and bridges, it added. (end) nk.hb
Source: Kuwait News Agency