LOC18:16
15:16 GMT
BRUSSELS, Oct 1 (KUNA) -- The European Commission announced Wednesday that it has disbursed the ninth tranche of the "exceptional Macro-Financial Assistance (MFA) loan" program, worth EUR four billion (USD 4.7 billion ), strengthening the European Union (EU)'s role as the largest donor since the start of the Russian war on Ukraine.
In a statement, the Commission explained that the total financial support from the EU to Ukraine has increased to approximately EUR 178 billion (USD 209 billion), while the EU's contribution to Ukraine's exceptional MFA loan program amounted to EUR 18.1 billion (USD 21.25 billion), bringing its total support under the program to EUR 14 billion (USD 13.43 billion) since the beginning of 2025.
The statement said that the disbursement of the additional funds to Ukraine represents the EU's contribution to the Extraordinary Revenue Acceleration initiative led by the G7, which aims to provide approximately EUR 45 billion (USD 52 billion) in financial support to Ukraine.
This confirms the EU's commitment to supporting Ukraine, which comes after Commission President Ursula von der Leyen announced in her recent State of the Union address the provision of EUR six billion (USD seven billion) as part of the Union's contribution to the Ukraine Recovery Initiative.
The decision is in line with the call of European leaders during the extraordinary European summit last March to accelerate funding for Ukraine, pointing out that the financing process is currently underway.
This support will help Ukraine meet its growing financial needs, including in the defense sector, where EUR one billion (USD 2.35 billion) of the amount will be allocated for drones, according to a joint agreement between the EU and Ukraine.
The statement emphasized that the Extraordinary Revenue Acceleration initiative from the G7 partners (in addition to the exceptional MFA loan) from the EU is being financed from the proceeds of frozen Russian government assets within the EU. (end)
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