European Commission agrees to allocate €4.1 billion to Ukraine under Ukraine Facility

The European Commission has agreed to allocate €4.1 billion to Ukraine under the Ukraine Facility.

Source: Prime Minister of Ukraine Denys Shmyhal

Quote: "The European Commission gave a positive assessment of the reforms and noted that the government has fulfilled the necessary indicators to receive this tranche."

Details: Shmyhal said the government expects the Council of the EU to approve the decision as soon as possible. This will bring the total amount of support under the Ukraine Facility for 2024 to €16.1 billion.

Background:

• The Ukraine Facility is a €50 billion programme of EU support for Ukraine that will run from 2024 to 2027.
• In May, the Council of the European Union approved Ukraine's plan to implement the €50 billion Ukraine Facility.
• According to Ukraine’s Ministry of Finance, total financial assistance from the EU in 2024 will reach €16 billion, of which €3 billion will be in the form of grants.
• The plan for the Ukraine Facility includes 69 reforms, which are covered by more than 150 quarterly performance indicators and 16 investment indicators. In the third quarter, Ukraine met eight of the nine indicators.

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