EU Macro-Financial Assistance (MFA) is provided for the support of macroeconomic stability of Ukraine.
In the framework of MFA funds are provided for the direct budget support, i.e. for the payment of current deficit of the consolidated budget and for the replenishment of the gold reserves of the National Bank of Ukraine. Ukraine have already received funds in the framework of the three EU MFA programmes.
First programme totalling 610 million Euros (MFA I) was concluded in April 2013, second programme totalling 1 billion Euros (MFA II) was concluded in May 2014, third programme totalling 1,8 billion Euros was concluded in May 2015.
The provision of the EU MFA to Ukraine is subject to the successful cooperation of Ukraine with the International Monetary Fund and satisfactory fulfilment of the previous IMF programmes of the financial assistance.
In addition in the framework of MFA separate package of the preliminary conditions envisaging conducting of reforms in a range of sectors of economy and public management from the reform of the public finance management system to the reforms of energy sector, fiscal system, etc.
Payments in the framework of these programmes are carried out in equal tranches provided that the Ukrainian side completes the preconditions provided by the MFA programmes.