Espreso. Global

Ukraine receives first tranche from EUR 50 billion package - Borrell

20 March, 2024 Wednesday
15:06

The European Commission transferred EUR 4.5 billion to Ukraine on March 20. This is the first tranche of macro-financial assistance from the large support package totaling EUR 50 billion

Josep Borrell, the EU's chief diplomat, announced this at a briefing in Brussels.

He stated that they had made the first payment of EUR 4.5 billion under the Ukraine Facility program, which is part of their EUR 50 billion package aimed at supporting the recovery, reconstruction, and modernization of Ukraine.

The diplomat added that the European Council would discuss tomorrow how to expedite Ukraine's accession to the EU.

In turn, European Commissioner for Enlargement and European Neighbourhood Policy, Oliver Varhelyi, stated that the second tranche is expected to come about in April.

Varhelyi mentioned that the process of rebuilding Ukraine had already been initiated. He emphasized their commitment to ensuring its uninterrupted progress. Additionally, he urged private businesses to participate and expressed their intention to encourage Ukraine to implement further reforms essential for EU accession.

He noted that when discussing financial assistance, since the outset of Russia's full-scale invasion, the European Union, member states, and European institutions collectively provided Ukraine with EUR 98 billion in aid. This comprised financial aid, military assistance, and funds that facilitated the sheltering of Ukrainian refugees.

  • On February 28, the EU finally approved a four-year, EUR 50 billion support program for Ukraine. This is the Ukraine Facility, an instrument that will help the Ukrainian government finance the budget deficit, increase investment in the economy, and accelerate Ukraine's membership in the EU.
  • The Ukrainian Cabinet of Ministers has approved a plan for the Ukraine Facility program, which provides financial support to Ukraine from the European Union totaling EUR 50 billion.
Tags:
Read also:
  • News
2024, Sunday
21 April
20:16
Ukrainian Defense Forces foil 2 Kh-59 guided missiles, repel 50 Russian attacks in six sectors
19:40
OPINION
Revolutionary step. Denmark to finance Ukrainian weapons production
19:21
Germany seeks additional air defense for Ukraine
19:01
Exclusive
U.S. aid to Ukraine: General predicts immediate impact on course of war
18:22
Updated
Ukrainian Navy damages Russian rescue ship Kommuna in Sevastopol
17:40
Russia attacks Odesa region's port area with ballistic missiles
17:06
German regions no longer want to accept Ukrainian refugees
16:18
Russia attacks Ukrayinsk, Donetsk region with Smerch missiles, killing one and injuring four
15:46
No Russian presence in Chasiv Yar – Ukrainian Armed Forces
15:07
Exclusive
Mayor of Russian-held Nova Kakhovka reveals harsh reality of life under occupation
14:39
How much of the $61 billion U.S. aid package will directly arm Ukraine?
14:06
Russian troops use Avdiivka tactics near Chasiv Yar – British Intelligence
13:33
Exclusive
Does Ukraine need F-16s at this stage of war? Aviation expert Dolintse explains
12:58
Ukraine's environment suffers UAH 2.4 trillion in damage due to Russian aggression
12:20
Bakhmut sector: Weather favors active Russian assaults with armored vehicles
11:45
Russia will escalate attacks ahead of U.S. aid to Ukraine, warns ISW
11:15
New Ukraine aid package will contribute to U.S. security – Pentagon chief
2024, Saturday
20 April
20:35
Ukrainian army repels 25 Russian attacks in Bakhmut sector over last day
20:11
Ukraine receives L-39 attack aircraft from Lithuania
19:44
Latvian citizen detained on charges of planning sabotage in Ukraine - media
19:19
Exclusive
Russian opposition is waiting for Ukraine's victory to start acting - MP Mezentseva
18:55
Ukraine is interested in Brazil's active participation in first Global Peace Summit - Zelenskyy
18:30
OPINION
Destroying Russian refineries is best sanctions policy
18:02
West has 'double standards' on air defense for Ukraine, says Zelenskyy
17:37
It will come with threats, tanks: Podolyak on inviting Russia to Normandy landings anniversary
17:12
Ukrainian forces kill Russian war correspondent Yeromin
16:48
Exclusive
Offensive planned by Russia for May-June has begun - Ukrainian major
16:25
OPINION
United States should be faced with choice
16:02
Countries close to Russia doubt expediency of war in Ukraine - Scholz
15:39
Exclusive
How relatives search for missing soldiers in Ukraine
15:14
Exclusive
Political analyst Musienko assesses Lavrov's statements on negotiations
14:56
Updated
Russia attacks Kharkiv region with bomb, killing and injuring civilians
14:48
Russia forcibly deports Ukrainians from Dnipro coast in occupied Kherson region
14:25
UK intelligence analyzes downing of Russian Tu-22M3 strategic bomber
14:02
Review
Russia's attempts to advance in Donetsk, Zaporizhzhia regions. Weekly military results by Serhiy Zgurets
13:19
Exclusive
Military comments on statements about Ukrainian army's counteroffensive in 2025
12:55
Russia's war in Ukraine kills at least 545 children, injures 1,298 more
12:34
Updated
Ukrainian special services attack facilities in 8 Russian regions, damaging energy sector
12:27
Updated
Russia loses 8 tanks, 20 artillery systems, 750 soldiers per day - General Staff
12:00
French mercenaries killed in Sloviansk: new Russian fake
More news