site.btaCabinet Approves Agreement between Bulgaria, EC to Provide Macro-Financial Aid to Ukraine

The caretaker government approved the draft guarantee agreement between the European Commission and the Republic of Bulgaria under Article 10 of Decision (EU) 2022/1628 of the European Parliament and of the Council of the European Union on the provision of emergency macro-financial assistance to Ukraine, the Cabinet press service reported on Wednesday. The Minister of Finance was authorised to negotiate and sign the agreement on behalf of the Republic of Bulgaria, subject to subsequent ratification.

The total amount of loans under this exceptional macro-financial assistance to Ukraine is up to EUR 6 billion. The loan is guaranteed by provisions under the EU's multiannual financial framework as well as by guarantees provided by Member States. The amount of guarantees to be provided by Bulgaria is EUR 16,654,646, provided for in the limit for state guarantees in the Implementation of Provisions Act of the 2022 State Budget of Bulgaria Act, the 2022 Public Social Insurance Budget Act, and the 2022 National Health Insurance Fund Budget Act.

The cabinet adopted a decision on January 25 to grant humanitarian aid to Ukraine. The assistance was requested by the Government of Ukraine under the EU Civil Protection Mechanism with communications from the Emergency Response Coordination Centre. The total value of the humanitarian aid grant is BGN 1,752,535.