Ukraine will get the first €4.5 billion tranche under the Ukraine Facility program in March, followed by another €1.5 billion in April, announced Valdis Dombrovskis, European Commission Executive Vice-President.
"We are finalizing the mechanism to support Ukraine, called the Ukraine Facility. The first tranche will arrive in March, with another shortly after," Dombrovskis said during a joint briefing with Prime Minister Denys Shmyhal in Kyiv.
On February 28, the EU Council approved a multi-year €50 billion Ukraine Facility aid package for 2024-2027. €39 billion will go directly to the state budget to strengthen macroeconomic stability. The remainder is a special investment instrument to cover risks in priority sectors, interest payments on loans, etc.
In early February, all 27 EU leaders agreed to this program, although the EU had to compromise to convince Hungary.
Read more:
- EU Council finalizes €50 billion financial assistance plan for Ukraine
- PM Shmyhal: all EU members to back €50 billion Ukraine fund
- PM Shmyhal: Slovakia to support EUR 50 billion Ukraine Facility vetoed by Hungary
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