European Commission pays out 4.2B euro first payment under Ukraine Facility
The European Commission (EC) paid out close to 4.2 billion euro to Ukraine on August 13 under the first pillar of the Ukraine Facility, the EC said.
This brings to 12 billion euro the total EU funding disbursed to the Ukrainian government under the facility so far, the EC statement said.
Following the payment request submitted by Ukraine, the Council of the EU endorsed the Commission’s assessment that Ukraine has satisfactorily fulfilled the nine reform indicators linked to the first regular quarterly payment.
These conditions, covering public financial management, governance of state-owned enterprises, business environment, energy and demining, have been set out in the Ukraine Plan.
The August 13 payment follows the initial payments made under the Facility, namely €6 billion in bridge financing and 1.9 billion euro in pre-financing, and is a testament to the swift implementation of the Ukraine Plan.
For the period 2024-2027, up to 50 billion euro in grants and loans will be provided under the EU’s Ukraine Facility to support the country’s efforts to sustain macro-financial stability, promote short-term recovery as well as rebuild and modernise whilst implementing key reforms for its EU accession path, the EC said.
Financing to support the Ukraine Plan is subject to the fulfilment of pre-agreed quarterly reform and investment indicators endorsed by the Council of the EU.
(Photo: EC Audiovisual Service)
Please support The Sofia Globe’s independent journalism by becoming a subscriber to our page on Patreon:
