Ukraine Facility: Cabinet Of Ministers Approves EUR 5.27 Billion In Grant Aid From EU
Date
6/28/2024 3:11:10 PM
(MENAFN- UkrinForm) On 28 June, the Cabinet of Ministers approved a financial agreement between Ukraine and the European Union that regulates grant assistance under the Ukraine Facility in the amount of EUR 5.27 billion over the next four years.
This is reported by the Ministry of Economy of Ukraine , Ukrinform reports.
The agreement is scheduled to be signed next week.
"In total, budget support under the first component of the programme, including loans and grants, amounts to EUR 38.27 billion. The programme will ensure the receipt of tranches in accordance with the quarterly schedule of indicators," the statement said.
In total, in 2024, Ukraine expects to receive EUR 16 billion in support, of which EUR 3 billion will be grant aid.
Ukraine expects the next payment after signing the relevant agreements and meeting the indicators for Q2 2024. According to the report, Ukraine is expected to receive EUR 4.11 billion in macro-financial support, of which EUR 1.5 billion will be in the form of grants.
"There is still a lot of work to be done behind these tranches. Today, at the government meeting, 2 more indicators for the 2nd quarter of 2024 were also met: the National Mine Action Strategy until 2030 was adopted and the Budget Declaration for 2025-2027 was approved. In total, by 2027, we have to fulfil 151 indicators in 69 areas of reform," said Yulia Svyrydenko, First Vice Prime Minister and Minister of Economy of Ukraine.
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According to her, the financial assistance received under the Ukraine Facility in the amount of EUR 7.9 billion made it possible to finance pension payments, social benefits and others.
As reported, Ukraine and the European Union have recently signed an agreement totalling EUR 27 billion for 2024-2027 under the Ukraine Facility. Ukraine will receive the next tranches under the Facility on a quarterly basis, subject to the fulfilment of the indicators set out in the Ukraine Plan.
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