On November 4, it became officially known that the Council of the European Union had decided to provide Ukraine with over 1.8 billion euros in financial support under the Ukraine Facility program.
Points of attention
- Since the initiation of the Ukraine Facility, Ukraine has already received significant financial disbursements, totaling around €6 billion in interim financing and several tranches of varying amounts.
- The latest tranche signifies Ukraine's progress in meeting reform criteria set by the EU, demonstrating the commitment to achieving macro-financial stability and advancing towards EU accession.
Ukraine will receive new financial assistance
Official Brussels draws attention to the fact that the allocation of this large-scale tranche de facto indicates the successful implementation by Ukraine of nine steps that are important for receiving the fifth tranche, as well as one unfulfilled step from the fourth tranche.
The main goal of the European Union authorities is to significantly strengthen Ukraine's macro-financial stability, as well as ensure the smooth functioning of its public administration.
What is important to understand is that the provision of financial assistance under the Ukraine Facility is closely linked to the "Ukraine Plan".
The latter describes the country's recovery, reconstruction, and modernization strategy, as well as the timeline for implementing reforms aligned with the country's goals for EU accession in the coming years.
Since the entry into force of the Ukraine Facility, Ukraine has already been disbursed €6 billion in interim financing, €1.89 billion in pre-financing and four tranches amounting to approximately €4.2, €4.1, €3.5 and €3.2 billion respectively.
