EU Council approves disbursement of around 4.1 billion euros to Ukraine

(Patria) - The EU Council today approved the disbursement of the second tranche of financial assistance under the Ukraine Facility, amounting to over 4.1 billion euros in grants and loans, intended to support Ukraine's macroeconomic stability and the functioning of its public administration, reports RSE.

With the adopted decision, the Council concluded that Ukraine has fulfilled the necessary conditions and reforms envisaged by the Plan for Ukraine to receive a new tranche of funds from the Ukraine Facility.

The Council also emphasized the importance of disbursing these funds as soon as possible, given Ukraine's difficult fiscal situation.

The Plan for Ukraine includes measures aimed at the country's recovery, reconstruction, and modernization, as well as reforms that the authorities plan to undertake in the next four years as part of the EU accession process.

The Plan for Ukraine, approved by the EU Council in May this year, envisages that the Union, through the Ukraine Facility, will provide Ukraine with financial support of up to 50 billion euros for the period 2024-2027.

Of this amount, 32 billion euros are planned for supporting reforms and investments, the disbursement of which will depend on the fulfillment of prerequisites related to the functioning of democratic institutions, the rule of law, and reform processes, primarily in the fight against corruption and money laundering.

To date, the EU has disbursed around six billion euros to Ukraine under this Facility, including 1.89 billion as pre-financing and a tranche of almost 4.2 billion - 1.5 billion euros in grants and over 2.6 billion euros in loans.