The European Commission has approved the allocation of almost €4.2 billion to Ukraine under the Ukraine Facility programme.
This was announced by the Prime Minister of Ukraine Denys Shmyhal.
"The European Commission supports the allocation of almost EUR 4.2 billion to Ukraine. This significant assistance will strengthen our macro-financial stability amid the ongoing struggle for freedom," the Prime Minister said in a statement.
After receiving the fourth tranche, the total amount of funding from the EU under the Ukraine Facility will reach €12 billion.
"We are grateful to the European Commission for its positive assessment of Ukraine's progress and to President Ursula von der Leyen for her continued support. Together, we are implementing structural reforms and working towards our common future," Shmyhal added.
Ukraine Facility
- On 22 May, Ukraine and the EU signed a Framework Agreement for financing under the Ukraine Facility programme. According to the Agreement, Ukraine undertakes to ensure transparency and control over the use of funds provided under the Ukraine Facility.
- The Ukraine Facility programme envisages the allocation of EUR 50 billion to Ukraine by the European Union for four years.
- In May, the Cabinet of Ministers approved a plan for the Ukraine Facility programme. The plan includes structural reforms, including in public administration, energy and agriculture.
- On 1 February, the decision to provide €50 billion to Ukraine was made at a meeting of the European Council. The funds will be disbursed to Ukraine over four years. Based on the Commission's annual report on the implementation of the Facility for Ukraine, the European Council will hold annual debates on the Facility to provide guidance.
- The EU's Ukraine Facility programme envisages the provision of EUR 50 billion to Ukraine over the period 2024-2027. Of this amount, €39 billion will be allocated to the state budget to strengthen macro-financial stability.
- The programme also provides for a special investment instrument to cover risks in priority sectors, which will amount to €8 billion. Investors will be able to receive funding under this instrument through the EBRD, the EIB and other international institutions. It is expected that the implementation of projects under this instrument will attract an additional €30 billion in investments.