The EU Council has confirmed that it has given the green light for the first disbursement of almost €4.2 billion to Ukraine under the Ukraine Facility. Prime Minister Denys Shmyhal said that the payments are expected later this month, UNN reports.
Details
"Ukraine is to receive about €4.2 billion in funds after the Council (of the EU) gave the green light for the first regular disbursement of grants and loans under the EU's Ukraine Facility to support Ukraine's macro-financial stability and the functioning of its public administration," the European institution confirmed.
In the decision adopted today, the EU Council reportedly "concluded that Ukraine has fulfilled the necessary conditions and reforms set out in the Ukraine Plan to receive the funds to be disbursed from the Ukraine Facility. These reforms cover public financial management, management of state-owned enterprises, business environment, energy and demining". The EU Council, as indicated, also emphasized "the importance of disbursing the money as soon as possible, given the difficult financial situation in Ukraine".
"Today we have taken an important step forward! I am grateful to the EU Council for approving the disbursement of the first regular tranche under the Ukraine Facility. Support in the amount of EUR 4.2 billion is essential for the recovery, reconstruction and modernization of Ukraine. We expect the disbursement later this month. Together we are rebuilding and strengthening Ukraine!