Ukraine signs €5.27 billion agreement with EU under Ukraine Facility

First Deputy Prime Minister and Minister of Economy Yuliia Svyrydenko has signed a financial agreement between Ukraine and the European Union, which regulates the receiving of grant assistance under the Ukraine Facility in the amount of €5.27 billion over the next four years.

Source: press service of the Ministry of Economy with reference to the relevant decision to attract grant support from the EU, which was adopted at a government meeting last week

Quote: "The signing of an agreement to attract €5.27 billion in grant support over the next four years will help stabilise the macroeconomic and financial situation in the country and provide the necessary resources to support key sectors of the economy.

This is the last agreement necessary for the Ukraine Facility programme to become fully operational," said Yuliia Svyrydenko.

The press service also reported that the total budget support under the first component of the programme, including loans and grants, amounts to €38.27 billion.

The programme will ensure the receiving of tranches in accordance with the quarterly schedule of indicators. In total, Ukraine expects to receive €16 billion of support in 2024, of which €3 billion will be in the form of grants.

Background: Preliminary data indicate that as of 1 July, Ukraine's international reserves amounted to US$37.9 billion. In June, they decreased by 2.9%, or US$1.14 billion.

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