EU envoys back EUR 4.2B tranche for Kyiv under Ukraine Facility

The Committee of Permanent Representatives of EU Member States (COREPER) today adopted an executive decision on transferring to Ukraine the first tranche of economic aid in the amount of EIR 4.2 billion, within the framework of the Ukraine Facility in the multi-year EU budget 2024-2027.

That’s according to the press service of the Hungarian Presidency of the EU, Ukrinform reports.

"Today, Ambassadors adopted the first instalment under the Ukraine Plan of the Ukraine Facility Regulation, paving the way for the transfer of nearly €4.2 bn to support Ukraine's recovery, reconstruction, and modernisation," the statement reads.

As noted by the Hungarian Presidency of the EU, as the next step, the Council of the EU will move ahead with a written procedure.

As Ukrinform reported earlier, the European Council in February 2024 approved the decision to create a Ukraine Facility in the amount of EUR 50 billion in the multi-year EU budget 2024-2027 for budgetary support and recovery of Ukraine for the next four years. The payment of this financial assistance in the form of loans and grants is conditioned by Ukraine's implementation of the so-called Ukraine Plan, which contains a list of key reforms and investment programs agreed with the EU.