The ambassadors of the countries of the European Union approved the tranche of Ukraine for 4.2 billion euros under the Ukraine Facility program.
Points of attention
- The Ukraine Facility program in the amount of 50 billion euros is aimed at supporting Ukraine from the European Union from 2024 to 2027.
- The European Parliament approved the regulations of the Ukraine Facility program in February 2024, and Ukraine concluded a credit agreement with the EU in June.
- After the approval of the EUR 4.2 billion tranche, the total amount of financing of Ukraine under the Ukraine Facility will reach EUR 12 billion.
Ukraine will receive almost 4.2 billion euros from the EU
Today, the ambassadors approved the first tranche within the framework of the Ukrainian plan of the Regulation on the Ukraine Facility credit fund, paving the way for the transfer of almost 4.2 billion euros to support the recovery, reconstruction and modernization of Ukraine, the message says.
✅ Today, Ambassadors adopted the first instalment under the Ukraine Plan of the Ukraine Facility Regulation, paving the way for the transfer of nearly €4.2 bn to support Ukraine's recovery, reconstruction, and modernisation. As a next step, the @EUCouncil will move ahead with a… pic.twitter.com/4XIG7iDMSl
— Hungarian Presidency of the Council of the EU 2024 (@HU24EU) July 24, 2024
The next step will be to approve this decision on the written procedure used for non-debatable steps.
Ukraine Facility program
In February 2024, the European Parliament approved the regulations of the Ukraine Facility program. The support program for Ukraine from the EU in the amount of 50 billion euros will operate from 2024 to 2027. In June, Ukraine and the European Union concluded a loan agreement within the framework of the Ukraine Facility.
On July 17, the European Commission approved providing Ukraine with a tranche of EUR 4.2 billion under the Ukraine Facility. After approval of the tranche by the Council of the EU, the total amount of financing of Ukraine under the Ukraine Facility will reach 12 billion euros.
As Prime Minister Denys Shmyhal said, Ukraine expects to receive this tranche in September this year. Shmyhal also reported that Ukraine has fulfilled the indicators of the second quarter of 2024 for the Ukraine Facility program.
