Espreso. Global

Ukraine Facility: Ukraine signs €5.27 billion financial agreement with EU

9 July, 2024 Tuesday
14:59

Ukraine's First Deputy Prime Minister and Minister of Economy Yulia Svyrydenko signed a financial agreement with the EU for €5.27 billion in grant assistance under the Ukraine Facility

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Ukraine's Ministry of Economy reported the information.

The government approved the decision to secure this grant support last week.

Yulia Svyrydenko stated that this €5.27 billion agreement, spread over the next four years, will stabilize Ukraine’s macroeconomic and financial situation and provide essential resources to support key sectors of the economy.

"This agreement is crucial for fully launching the Ukraine Facility program. We are thankful to the EU for its support in rebuilding Ukraine and creating new investment opportunities for the future," said the deputy prime minister.

About Ukraine Facility

The Ukraine Facility is an instrument that allows Ukraine to receive financial and technical assistance from the EU, totaling €50 billion from 2024 to 2027. Of this, €38.27 billion will go to budget support, €6.97 billion to the investment fund, and €4.76 billion to technical and administrative support.

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

In early June, the Verkhovna Rada ratified an agreement with the EU to receive funds under the Ukraine Facility. On June 27, Ukraine received €1.9 billion in funding from the EU under this initiative.

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