Ukraine has received a new tranche of €3.5 billion from the European Commission as part of a support mechanism known as the Ukraine Facility. This was announced by Prime Minister Denys Shmyhal.
This is reported by Kyiv24
“These funds will help us continue to maintain macroeconomic stability,” he noted.
Shmyhal emphasized that the total amount of financial assistance provided to Ukraine under the Ukraine Facility has already reached €19.6 billion. He also expressed gratitude for the ongoing support and solidarity with Ukraine during these challenging times, stating:
“Thank you for your continuous support and solidarity with Ukraine in difficult times. Together we will endure and rebuild everything,” wrote Shmyhal.
Recall that on March 17, the Council of the European Union approved the payment of the third installment to Ukraine under the Ukraine Facility program amounting to nearly €3.5 billion. This mechanism is designed to support the country in its efforts for recovery, reconstruction, and modernization, as well as in implementing the reforms necessary for joining the European Union within the next four years.
At the end of spring 2024, the EU Council adopted a plan for the Ukraine Facility, which outlines the intentions of the Ukrainian government regarding the implementation of the aforementioned measures. This step allowed for the initiation of regular payments from the Fund for Ukraine totaling €50 billion.