EU approves first disbursement of almost EUR 4.2 billion to Ukraine under the Ukraine Facility

The EU Council has decided to make the first payment to Ukraine in the amount of almost 4.2 billion euros under the new Ukraine Facility program, the Hungarian presidency of the EU Council said on Tuesday, UNN reports.

Details

"Written procedure concluded!" Following the conclusion of the written procedure, the Council (EU) today adopted an implementing decision authorizing the first disbursement of almost EUR 4.2 billion under the Ukraine Facility. This decision supports the macro-financial stability of Ukraine and the functioning of its public administration," the Hungarian Presidency of the EU Council said in a statement on X.

Previously 

On July 24, EU ambassadors agreed to disburse EUR 4.2 billion to Ukraine under the Ukraine Facility.

On July 17, the European Commission positively assessed the first regular disbursement of about EUR 4.2 billion under the Ukraine Facility program to support the country's macro-financial stability and public administration.

The European Commission has concluded that Ukraine has "satisfactorily implemented" nine reform indicators related to the first regular payment in support of the Ukraine Facility Plan, a strategy for reform and investment in Ukraine for the next four years. These reforms cover public financial management and state-owned enterprises, the business environment, energy, and demining.

Addendum

Following the approval of this decision by the EU Council, the total amount of funding allocated to Ukraine since the launch of the instrument in March this year will reach EUR 12 billion.

Under the Ukraine Facility program, the country will receive up to EUR 50 billion in grants and loans for the period 2024-2027.