Ukraine expects to receive the first installment of EUR 50 billion in additional support from the EU in March
Kyiv • UNN
The EU is expected to disburse the first €4.5 billion installment of its €50 billion macro-financial support program to Ukraine in March 2024.
Ukraine expects to receive 4.5 billion euros out of the 50 billion provided for in the EU budget for macro-financial support as early as March this year. This was stated by the First Deputy Prime Minister and Minister of Economy of Ukraine Yulia Svyrydenko, quoted by the Ministry of Energy and Coal Industry, UNN reports.
The final regulations are to be adopted by the European Parliament during its plenary session scheduled for February 26-29, 2024. We expect to receive the first payment of EUR 4.5 billion in March. The government is currently working on a corresponding agreement on transitional financing together with European partners
As noted, the Ukraine Facility Plan envisages the implementation of structural reforms in the public sector, a number of economic reforms to develop the business climate and entrepreneurship.
Recall
The EU's Ukraine Facility program provides EUR 50 billion to Ukraine over the period 2024-2027. Of this amount, €39 billion will be allocated to the state budget to strengthen macro-financial stability.
The program also provides for a special investment instrument to cover risks in priority sectors, which will amount to EUR 8 billion. Funding under this instrument will be available to investors through the EBRD, EIB, and other international institutions. It is expected that the implementation of projects under this instrument will attract an additional EUR 30 billion in investments.
In addition, the budget of the Ukraine Facility program provides for a separate area of technical support, including funds to cover interest on loans under the Ukraine Facility, which will amount to EUR 3 billion.
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