| Author (Corporate) | Council of the European Union, European Parliament |
|---|---|
| Series Title | Official Journal of the European Union |
| Series Details | L 55, Pages 4-11 |
| Publication Date | 28/02/2022 |
| Content Type | Legislation, News, Policy-making |
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Summary: Decision (EU) 2022/313 - signed by the co-legislators on 24 February 2022 - establishing a new emergency Macro-Financial Assistance (MFA) programme for Ukraine of up to €1.2 billion. Further information: Macro-Financial Assistance (MFA) operations are part of the European Union's wider engagement with neighbouring countries and are intended as an exceptional EU crisis response instrument. They are available to EU neighbourhood countries experiencing severe balance-of-payments problems. It became increasingly clear the existing geopolitical tensions between Russia and Ukraine were having a detrimental effect on the latter's economic and financial stability. Persistent security threats triggered a substantial outflow of capital. Against this backdrop - and following a request from the Ukrainian authorities - the European Commission tabled on 1 February 2022 a proposal to provide a new MFA in the form of loans aimed at fostering stability in Ukraine. The MFA was designed to have a duration on 12 months and would consist of two disbursements. The plenary of the European Parliament adopted the proposed Decision on 16 February, followed by the Council of the European Union on 21 February. The Decision was formally signed by the co-legislators on 24 February 2022 and published in the Official Journal on 28 February 2022. The first €600 million instalment was disbursed on 11-18 March 2022. The second instalment was delivered on 20 May 2022. |
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| Source Link | Link to Main Source http://data.europa.eu/eli/dec/2022/313/oj |
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| Subject Categories | Economic and Financial Affairs |
| Subject Tags | Economic Governance | Situation, European Neighbourhood Policy [ENP] |
| Keywords | Macro-Financial Assistance [MFA] |
| Countries / Regions | Ukraine |
| International Organisations | European Union [EU] |
