EU ambassadors approve €4.2bn tranche for Ukraine under Ukraine Facility

The Hungarian Presidency of the Council of the European Union reported the information.

"Today, Ambassadors approved the first instalment under the Ukraine Plan of the Ukraine Facility Regulation, paving the way for the transfer of nearly €4.2 bn to support Ukraine's recovery, reconstruction, and modernisation," the statement said.

The next step is for the Council of the European Union to proceed with a written procedure.

About the Ukraine Facility

The Ukraine Facility is an instrument that provides for the possibility of Ukraine receiving EU financial and technical assistance totalling €50 billion in 2024-2027. Of this amount, €38.27 billion will be allocated for budget support, €6.97 billion for the investment fund, and €4.76 billion for technical and administrative support.

The EU finally approved the four-year support programme for Ukraine on February 28. Subsequently, on March 18, the government approved a plan for the Ukraine Facility programme. The European Commission called this a great achievement.

In early June, the Ukrainian Parliament ratified an agreement with the European Union to receive funds under the Ukraine Facility initiative.

On July 9, the First Vice Prime Minister of Ukraine and Minister of Economy Yulia Svyrydenko signed a financial agreement between Ukraine and the European Union that regulates the receipt of grant assistance under the Ukraine Facility in the amount of €5.27 billion.

Subsequently, the European Commission approved another €4.2 billion in funding for Ukraine under the Ukraine Facility.