The European Commission has signed a memorandum of understanding with Ukraine on a macro-financial assistance program, paving the way for the release of €3.2 billion in funding as early as mid-June, pending ratification by Ukraine’s parliament.
The agreement forms part of a much larger €90 billion EU financing package designed to support Ukraine throughout 2026 and 2027 as the country continues to defend itself against Russia’s invasion.
European Economy Commissioner Valdis Dombrovskis announced that negotiations on the memorandum had been completed and that he had signed the document on behalf of the European Union. The agreement now requires Ukraine’s signature and approval by the Verkhovna Rada before funds can be released.
According to Dombrovskis, the broader €90 billion loan program could be formally signed within days. Under the plan, €45 billion is scheduled for disbursement in 2026, with a further €45 billion to follow in 2027.
The funding package allocates €28.3 billion this year for military expenditure, while €16.7 billion is earmarked for broader budgetary support. The latter will be divided equally between the macro-financial assistance program and the Ukraine Facility, an EU mechanism dedicated to the country’s recovery, reconstruction and modernization efforts.
The macro-financial assistance component comes with reform requirements. Dombrovskis said the program is tied to measures aimed at strengthening public finances, increasing domestic revenue collection, improving spending efficiency and enhancing financial management systems.
He added that the European Commission coordinated closely with the International Monetary Fund to ensure that the programs conditions are aligned with, and where necessary complementary to, the IMF’s support framework for Ukraine.
If approved by lawmakers in Kyiv, the first €3.2 billion tranche is expected to be disbursed in mid-June, providing additional financial support as Ukraine continues to manage the economic and military pressures of the ongoing war.
