The European Commission has approved a €4.2 billion aid package for Ukraine. This latest financial boost, part of the Ukraine Facility program, awaits final approval from the EU Council.
“Once adopted by the Council, this decision will bring to €12 billion the total EU funding disbursed to Ukraine since the Facility became operational in March this year,” reads the European Commision statement.
Ukraine's progress in implementing crucial reforms played a key role in securing this funding. The country successfully met nine reform indicators, spanning public finance management, state-owned enterprise governance, business environment improvements, energy sector reforms, and demining efforts.
First Deputy Prime Minister and Minister of Economy, Yulia Svyrydenko, highlighted specific actions taken, including the digitalization of customs services, adoption of a forward-looking budget declaration, and implementation of anti-corruption measures.
Since the Ukraine Facility's inception, the country has already received €7.9 billion. Looking ahead, Ukraine can expect further support, with the next installment anticipated in autumn 2024.
The Ukraine Facility was established on 1 February, 2024. The program provides €50 billion in financial and technical assistance over four years.
Read more:
- Politico: Hungary may lift veto on EU's four-year Ukraine aid package if aid disbursed and approved yearly
- Hungary wants to redirect its European Peace Facility funds away from Ukraine aid
- PM Shmyhal: Slovakia to support EUR 50 billion Ukraine Facility vetoed by Hungary
Read Also
-
He was on the set of a Hollywood thriller about Nord Stream. Then Germany had him arrested over the real attack.
-
Ukraine’s top military marketplace has processed $235 million in orders. Now it goes further, letting units spec a custom drone across 17 characteristics
-
Ukraine’s refinery strikes push Russia’s fuel crisis into Central Asia
