Tuesday, 02 January 2024 12:17 GMT

EU Council Approves Firth Payment Of Over €1.8 Billion To Ukraine


(MENAFN- UkrinForm) Ukrinform reports this with reference to the EU Council's websit.

“Ukraine is set to receive over €1.8 billion in funding after the Council adopted a decision on the fifth regular disbursement of support under the EU's Ukraine Facility,” the statement reads.

The press service explained that this amount reflects Ukraine's successful completion of nine steps required for approval of the fifth tranche, as well as one outstanding step from the previous, fourth tranche of financial assistance.

“The funding aims primarily to bolster Ukraine's macro-financial stability and support the continued operation of its public administration,” the EU Council stated.

It is emphasized that payments under the Ukraine Facility are closely linked to the Ukraine Plan, which outlines Ukraine's strategy for recovery, reconstruction, and modernization, as well as the timeline for reforms required for EU accession in the coming years.

Read also: EU warns IMF aid to Ukraine depends on reparations loan – Politico

As reported, the Ukraine Facility mechanism, which entered into force on March 1, 2024, provides up to €50 billion in stable financing through grants and loans to support Ukraine's recovery, reconstruction, and modernization from 2024 to 2027. Of this amount, up to €32 billion is earmarked for supporting reforms and investments outlined in the Ukraine Plan, with disbursements conditioned on meeting agreed targets.

At the end of October this year, the Council of the European Union approved amendments to the Ukraine Plan under the Ukraine Facility, adopted by the Ukrainian government in August 2025.

Since the launch of the Ukraine Facility, €6 billion in bridging finance, €1.89 billion in pre-financing, and four tranches - roughly €4.2, €4.1, €3.5, and €3.2 billion respectively - have already been disbursed.

Photo: Unsplash

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