EU Council approves €4.2 billion for Ukraine under Ukraine Facility

Ukraine's Prime Minister Denys Shmyhal stated this.

"We are talking about receiving €4.2 billion this month, which will bring the total assistance under this initiative this year to €16 billion," the statement says.

According to Shmyhal, such financial support shows the determination to strengthen the economy, support key reforms and European integration aspirations, and strengthen Ukraine on its path to victory.

The EU Council added that Ukraine has fulfilled the necessary conditions and reforms envisaged in the Ukraine Plan to receive the funds to be disbursed under the program. The Council also emphasized the importance of disbursing funds as soon as possible, given the difficult financial situation in Ukraine.

Ukraine Facility

The Ukraine Facility is a mechanism that allows Ukraine to receive financial and technical assistance from the EU totaling €50 billion over the 2024-2027 period. Of this, €38.27 billion will be allocated for budget support, €6.97 billion for an investment fund, and €4.76 billion for technical and administrative support.

The EU officially approved the four-year Ukraine support program on February 28. On March 18, the government approved the plan for the Ukraine Facility program. The European Commission called this a significant achievement.

In early June, the Verkhovna Rada ratified the agreement with the European Union to receive funds under the Ukraine Facility initiative.

On July 9, Ukraine's First Vice Prime Minister and Minister of Economy, Yulia Svyrydenko, signed a financial agreement with the European Union regulating the receipt of €5.27 billion in grant assistance under the Ukraine Facility.

Later, the European Commission approved an additional €4.2 billion in funding for Ukraine under the Ukraine Facility.

On March 20, the European Commission transferred €4.5 billion to Ukraine. This was the first tranche of macro-financial assistance from the larger €50 billion support package.