Ukraine has received €4.2 billion from the European Union under the Ukraine Facility program. The funds will be spent on social programs, the humanitarian sphere, and other important budget programs, Babel writes.
This was announced by Prime Minister of Ukraine Denys Shmyhal.
Since the beginning of the year, the EU has provided Ukraine with more than €12 billion in budget support. Denys Shmyhal emphasized that Ukraine continues to implement reforms that are important for the country’s sustainability, development, and future. Another tranche of aid is expected by the end of the year.
Since the beginning of Russia’s full-scale invasion, all of Ukraine’s own budget revenues have been used to finance defense, accounting for about half of the budget. All civilian expenditures of the state budget are financed by foreign financial assistance – in 2024, the need for such external financing will amount to $38 billion.
The Ukraine Facility is a €50 billion macro-financial assistance to Ukraine for four years. EU leaders agreed on it on February 1, 2024. Ukraine will receive the money if it continues democratic reforms, guarantees a multiparty parliamentary system and the rule of law, and respects human rights.
