Ukraine and the European Union have initialed a memorandum of understanding (MoU) to provide €8.35 billion in macro-financial assistance. These funds are part of the EU's broader €90 billion credit facility for the country. This was reported by Dengi.ua with reference to a statement by European Commission Executive Vice-President Valdis Dombrovskis on Facebook.
On May 20, Dombrovskis announced the signing of the memorandum with Ukrainian officials, noting that it paves the way for the disbursement of the initial financial aid tranche.
"With today's signing, we are confidently moving towards the first tranche of the loan to support Ukraine. This support will strengthen the sustainability of Ukraine's economy, increase domestic revenues, and reinforce the fight against corruption," the Executive Vice-President stated.
Conditions Ukraine Must Fulfill
According to Dombrovskis, the memorandum outlines specific political and economic conditions that Ukraine must meet to trigger the release of each subsequent tranche. These requirements are divided into three core pillars:
- Mobilization of budget revenues;
- Increasing the efficiency of public expenditures;
- Improvement of the public finance management system.
To secure the first tranche, Ukraine is required to implement a coordinated series of structural steps across all three areas simultaneously.
Expected Reforms
Among the key baseline requirements are the introduction of income taxes on revenue generated through digital platforms, the development of sectoral public investment strategies, and comprehensive amendments to the Customs Code of Ukraine.
The European Commission emphasized that the financial assistance remains strictly conditional upon the steady execution of these reforms, demonstrating the EU's long-term commitment to Ukraine's stability.
The next phase requires the ratification of the memorandum by the Verkhovna Rada of Ukraine. Once all legal procedures are completed and the document officially enters into force, the European Commission will finalize preparations to disburse the first tranche of macro-financial assistance, totaling €3.2 billion. Provided Ukraine satisfies the necessary prerequisites, the funds could arrive as early as June 2026.
