Ukraine will receive over 3.2 billion euros in financial support after the EU Council made the decision to provide the fourth tranche under the Ukraine Facility program.
This is reported by Kyiv24
Purpose of Funding and Conditions for Allocation
The European Union emphasizes that these funds are aimed at strengthening the macro-financial stability of our state, as well as ensuring the effective functioning of government bodies. Payments under the Ukraine Facility are closely linked to the Ukraine Plan, which outlines the strategy for the recovery, reconstruction, and modernization of the country, as well as a list of reforms that align with the Euro-integration goals for the next four years.
“Payments under the Ukraine support mechanism are closely related to the Ukraine Plan, which outlines Ukraine’s strategy for recovery, reconstruction, and modernization, as well as the timeline for implementing reforms that align with the country’s goals for EU accession over the next four years.”
Prime Minister Yulia Svyrydenko described this decision by the EU Council as a “powerful signal of confidence in the reform course and Ukraine’s ability to ensure stability even in the most challenging times.” She also thanked the Danish presidency for its support, emphasizing that each such decision brings Ukraine closer to European integration.
Ukraine Facility: Scope and Mechanisms of Aid
The previous tranche under this program was received by Ukraine in March. In spring 2024, the EU Council approved a plan for the Ukraine Facility, outlining the government’s main tasks for the recovery, modernization, and reform of the country in accordance with the criteria for EU accession over the next four years.
The Ukraine Facility program provides stable funding in the form of grants and loans totaling up to 50 billion euros, intended for the period from 2024 to 2027. Of this amount, up to 32 billion euros is allocated to support the reforms and investments outlined in the Ukraine Plan. At the same time, payments are made contingent upon meeting specified indicators and reforms.
In total, Ukraine has already received 6 billion euros in transitional financing, 1.89 billion euros as pre-financing, as well as three previous tranches amounting to approximately 4.2, 4.1, and 3.5 billion euros, respectively.