Ukraine receives first tranche from EUR 50 billion package - Borrell

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.