EU gives preliminary approval for €4.2bn in financial support for Ukraine
The European Commission has given a positive assessment for the first regular payment of about €4.2 billion under the Ukraine Facility. The purpose of the Facility is to support Ukraine's macro-financial stability and the functioning of its public administration.
Source: European Commission press service
Details: Based on its assessment of the payment request submitted by Ukraine on 9 July 2024, the European Commission has concluded that Kyiv has satisfactorily fulfilled the nine reform indicators. This decision still needs to be approved by the EU Council.
These reforms cover public financial management, governance of state-owned enterprises, business environment, energy, and mine clearance.
This decision will bring the total amount of funding provided to Ukraine by the EU since the programme's launch in March this year to €12 billion.
Background:
- Ukraine recently signed a €5.27 billion grant agreement with the EU.
- In 2024, Ukraine expects to receive €16 billion in support, of which €3 billion will be grants.
- In late June, Ukraine received a €1.9 billion tranche of financial support from the European Union under the Ukraine Facility.
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