Ukraine and the EU have signed a memorandum on €18B in macro-financial aid; the first €3B will arrive on January 17.

European Commission President Ursula von der Leyen announced that the first €3B of macro-financial assistance to Ukraine will arrive on January 17. Preferential loan funds will be transferred to Ukraine’s state budget during 2023 in equal parts, contingent on Ukraine’s fulfillment of the agreed upon conditions. According to the Ministry of Finance, the money will be directed to the state budget’s priority social and humanitarian expenditures. In particular, these funds are earmarked for salaries of employees of educational institutions and institutions, medical institutions, payment of pensions and financing of individual state social assistance programs, support for low-income families, disabled children, and those disabled since childhood, and IDPs. These funds will also contribute to preserving Ukraine’s financial and economic stability.