The European Commission has approved the first regular disbursement of almost €4.2 billion to Ukraine under the Ukraine Facility program. This decision must now be approved by the Council of the European Union.
This is stated on the website of the European Commission, Babel reports.
Based on the results of the assessment of the payment request submitted by Ukraine on July 9, the European Commission decided that Kyiv had satisfactorily fulfilled nine reform indicators.
These include the reform of the Bureau of Economic Security, the approval of the Integrated National Energy and Climate Plan, and the entry into force of the law on corporate governance for state-owned companies.
Once these funds are disbursed, the total amount of EU funding under the Ukraine Facility will reach €12 billion.
Today, the European Commission has approved almost €4.2 billion in funding for Ukraine under the Ukraine Facility. The EU continues to strongly support Ukraine’s fight for freedom and its path to the EU, – said European Commission President Ursula von der Leyen.
Ukraine has already received three tranches under the Ukraine Facility. In March, the EU transferred €4.5 billion, in April – €1.5 billion, and in June – €1.9 billion.
Ukraine Facility
On February 1, EU leaders agreed to provide €50 billion in macro-financial assistance to Ukraine. This program is designed for four years. In order to receive the funds, Ukraine must meet a number of preconditions: continuation of democratic mechanisms, including a multi-party parliamentary system and the rule of law, and guaranteeing respect for human rights, including those of minorities. Kyiv has already approved a reform plan that will allow it to receive funding under the Ukraine Facility.
EU leaders will hold annual debates on the program, and in two years they may propose to the European Commission a revision of the entire multi-year financial framework.
According to the tentative disbursement plan, Ukraine will receive €16 billion in 2024, €12.5 billion in 2025, €7.25 billion in 2026, and €2.5 billion in 2027.
