EU Council approves EUR 4.2B tranche for Ukraine

This is said in a press release by the EU Council, Ukrinform reports.

“In a decision adopted today, the Council concluded that Ukraine had satisfied the necessary conditions and reforms envisaged in the Ukraine Plan for receiving the funds, which will be disbursed from the Ukraine Facility. These reforms cover public financial management, governance of state-owned enterprises, business environment, energy and demining,” the document reads.

The EU Council also stressed the importance of allocating the money as soon as possible, given the difficult fiscal situation in Ukraine

The Ukraine Plan sets out Ukraine’s intentions regarding the recovery, reconstruction and modernisation of the country and the reforms it plans to undertake as part of its EU accession process in the next four years.

In May 2024, the Council concluded that the Ukraine Plan fulfilled the preconditions for Ukraine to receive up to EUR 50 billion in support under the Ukraine Facility.

As Ukrinform reported, on July 17, the European Commission supported the allocation of almost EUR 4.2 billion to Ukraine. After receiving these funds, the total amount of funding from the EU under the Ukraine Facility will reach EUR 12 billion.