EU grants Ukraine €4.2 billion under Ukraine Facility program

The Prime Minister of Ukraine, Denys Shmyhal announced this.

According to him, the funds will be channeled into social programs, humanitarian efforts, and other budgetary initiatives.

“The new tranche under the Ukraine Facility strengthens Ukraine’s macro-financial stability. Consistent and timely support from the European Union lays a strong foundation for the government’s ongoing efforts to sustain and develop the national economy in the long term,” noted Ukraine’s Minister of Economy, Yuliia Svyrydenko.

She mentioned that Ukraine is currently focused on meeting third-quarter targets, which will unlock another €4 billion in November.

“In total, Ukraine expects to receive €16 billion in 2024, of which €3 billion will be in grants. During the third quarter of 2024, Ukraine plans to meet nine specific targets, enabling the release of €4 billion in November, including €1.5 billion in grant funding,” the Ministry of Economy added.

About the Ukraine Facility

The Ukraine Facility is an instrument that provides financial and technical assistance from the EU to Ukraine, amounting to €50 billion between 2024 and 2027. Out of this, €38.27 billion is designated for budget support, €6.97 billion for the investment fund, and €4.76 billion for technical and administrative assistance.

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

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

On July 9, Yuliia Svyrydenko signed a financial agreement between Ukraine and the European Union, which governs the disbursement of €5.27 billion in grants under the Ukraine Facility.

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