Micheál Martin (Cork South Central, Fianna Fail)
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44. To ask the Minister for Finance the position regarding the decision made at the EU Council meeting in December 2014 regarding the €500 million disbursement to Ukraine; and if he will make a statement on the matter. [4303/15]

Michael Noonan (Limerick City, Fine Gael)
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On 3 December 2014, €500 million was disbursed to Ukraine as the final part of the EU's €1 billion Macro-Financial Assistance programme (MFA II). The first package (MFA I) amounted to €610 million.

On 18 December 2014, the European Council stated that "the Union and its Member States stand ready to further facilitate and support Ukraine's reform process, together with other donors and in line with IMF conditionality".

On foot of a request for further financial assistance made in the latter part of last year and the economic situation in Ukraine, the Commission put forward a proposal on 8 January this year for a third MFA programme of up to €1.8 billion to be disbursed over this year and next in the form of medium-term loans. This proposal, which is for co-decision with the European Parliament, is currently being considered by the Council.