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1. The Union shall make available to Ukraine macro-financial assistance of a maximum amount of EUR 1 billion (the ‘Union’s macro-financial assistance’) with a view to supporting Ukraine’s macro-financial stability. The Union’s macro-financial assistance shall be provided to Ukraine in the form of a loan.

2. In order to finance the Union’s macro-financial assistance, the Commission shall be empowered, on behalf of the Union, to borrow the necessary funds on the capital markets or from financial institutions and to on-lend them to Ukraine. The loans under paragraph 1 and under Decision (EU) 2022/1628 of the European Parliament and of the Council () shall together have a maximum average maturity of 25 years. ◄ 3. The financial envelope referred to in Article 6(2), point (a), first indent, of Regulation (EU) 2021/947 shall be used to cover the costs of interest payments related to the macro-financial assistance during the period of the multiannual financial framework 2021–2027, as an interest rate subsidy referred to in Article 5(2) of this Decision.

4. The release of the Union’s macro-financial assistance shall be managed by the Commission in a manner consistent with the agreements or understandings reached between the Commission and Ukraine in the MoU referred to in Article 3(1).

5. The Commission shall regularly inform the European Parliament and the Council of developments regarding the Union’s macro-financial assistance, including disbursements thereof, and shall provide those institutions with the relevant documents in due time.

6. The Union’s macro-financial assistance shall be made available for a period of 12 months, starting on the first day after the entry into force of the MoU referred to in Article 3(1).

7. If the financing needs of Ukraine decrease fundamentally during the period of the disbursement of the Union’s macro-financial assistance compared to the initial projections, the Commission shall reduce the amount of the assistance, suspend it or cancel it.