On 30 November, the European Commission, on behalf of the EU, approved the disbursement of the first EUR 500 million of the new Macro-Financial Assistance (MFA) programme to Ukraine. With this disbursement, the total Macro-Financial Assistance extended to Ukraine by the EU since 2014 will reach EUR 3.3 billion, the largest amount of such assistance directed at any non-EU country. Under the new MFA programme approved by the European Parliament and the Council in July 2018, up to EUR 1 billion is available to Ukraine. The programme helps Ukraine cover its financing needs and supports the implementation of a wide-ranging structural reform agenda. The MFA funds are available in the form of low-interest long-term loans, conditional on the implementation of specific policy measures agreed in the Memorandum of Understanding. Ukraine has fulfilled the policy commitments agreed with the EU for the release of the first payment under the programme. These included important measures to step up the fight against corruption, improve the transparency of company registers, enhance the predictability of the tax environment and strengthen the governance of state-owned enterprises.