The European Commission approved the next tranche transfer to Ukraine under the Ukraine Facility. It will amount to almost €4.2 billion.
Points of attention
- The Ukrainian authorities should use these funds to strengthen financial stability and support economic reforms in the country.
- The EU continues to support Ukraine in its struggle for freedom and rapprochement with the European Union.
- Ukraine must implement a wide range of reforms to receive €50 billion under the Ukraine Facility by 2027.
- Receiving funds from frozen Russian assets will also help Ukraine strengthen its economy and ensure financial stability.
Ukraine will receive almost €4.2 billion from the EU
Based on the results of the assessment of the payment request submitted by Ukraine on July 9, the European Commission decided that Kyiv had satisfactorily implemented nine reform indicators.
These include, in particular, the reform of the Economic Security Bureau, the approval of the Integrated National Energy and Climate Plan, and the entry into force of the law on corporate governance for state-owned companies.
After receiving these funds, the total EU funding within the Ukraine Facility will reach 12 billion euros.
Today, the European Commission approved the allocation of almost €4.2 billion to Ukraine within the Ukraine Facility. The EU continues to resolutely support Ukraine's struggle for freedom and the path to the EU, said the President of the European Commission, Ursula von der Leyen.
Ukraine has already received three tranches under the Ukraine Facility. The EU transferred 4.5 billion euros in March, 1.5 billion euros in April, and 1.9 billion euros in June.
Prime Minister of Ukraine Denys Shmyhal said that almost €4.2 billion will strengthen Ukraine's financial stability.
I thank the European Commission for the positive assessment of Ukraine's progress and President Ursula von der Leyen for her constant support, he added.
What preceded it
It will be recalled that at the beginning of this year, the leaders of the EU countries approved the Ukraine Facility program, within the framework of which 50 billion euros were earmarked for Ukraine by 2027.
Ukraine receives the funds subject to the implementation of a number of reforms. In total, the country has 151 indicators for 69 areas of reforms.
On July 16, it became known that Ukraine sent a request to receive more than 4.1 billion euros under the Ukraine Facility from the European Union, as it fulfilled all nine indicators for the second quarter of 2024.
By the way, Ukraine's Minister of Defence, Rustem Umierov, recently said that in August, Ukraine will receive the first tranche from the EU from the revenues from Russia's frozen assets. It will amount to €1.4-1.5 billion euros.
