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Decision (EU) 2022/1628 of the European Parliament and of the Council of 20 September 2022 providing exceptional macro-financial assistance to Ukraine, reinforcing the common provisioning fund by guarantees by Member States and by specific provisioning for some financial liabilities related to Ukraine guaranteed under Decision No 466/2014/EU, and amending Decision (EU) 2022/1201 article 1 CELEX: 32022D1628 Making available of the Union’s exceptional macro-financial assistance
1. The Union shall make available to Ukraine exceptional macro-financial assistance of a maximum amount of EUR 5 000 000 000 (the ‘Union’s exceptional macro-financial assistance’) with a view to supporting Ukraine’s macro-financial stability. The Union’s exceptional macro-financial assistance shall be provided to Ukraine in the form of loans. It shall contribute to covering Ukraine’s financing gap as identified in cooperation with international financial institutions. 2. In order to finance the Union’s exceptional 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 provided under paragraph 1 of this Article and under Decision (EU) 2022/1201 shall together have a maximum average maturity of 25 years. |
Decision (EU) 2022/1628 of the European Parliament and of the Council of 20 September 2022 providing exceptional macro-financial assistance to Ukraine, reinforcing the common provisioning fund by guarantees by Member States and by specific provisioning for some financial liabilities related to Ukraine guaranteed under Decision No 466/2014/EU, and amending Decision (EU) 2022/1201 article 1 CELEX: 32022D1628 3. The Union’s exceptional macro-financial assistance shall be made available starting on the day after the entry into force of the MoU referred to in Article 3(1) and during the availability period set out therein, even if the guarantees set out in Chapter II, Section 1, of this Decision have not yet been provided. 4. If the financing needs of Ukraine decrease fundamentally during the period of the disbursement of the Union’s exceptional macro-financial assistance compared to the initial projections, the Commission shall reduce the amount of the assistance, suspend it or cancel it. |