EU foreign ministers approve third close to 3.5B euro Ukraine Facility payment to Ukraine
Ukraine will soon receive about 3.5 billion euro after European Union foreign ministers approved a third payment of non-repayable grants and loans to Ukraine under the Ukraine Facility, the Council of the EU said on March 17.
The main objective of the Facility is to support Ukraine’s macro-financial stability and recovery, reconstruction and modernisation, the statement said.
With this third payout, Ukraine will have received close to 20 billion euro under the Ukraine Facility since its entry into force a year ago.
The EU foreign ministers concluded at their meeting on March 17 that Ukraine had satisfied the necessary conditions laid down in the Ukraine Plan in order to receive a third disbursement from the Ukraine Facility.
Ukraine successfully demonstrated that it had implemented 13 different steps, the Council of the EU said.
These include, among others, passing reforms to increase the use of renewable energy; increasing the autonomy of the energy regulator; simplifying border-crossing procedures in line with EU standards; adopting a strategy for agriculture and rural development (including the removal of land mines from agricultural areas); and continuing work on listing its strategic and critical raw materials.
The Ukraine Plan sets out Ukraine’s intentions regarding the recovery, reconstruction and modernisation of the country, and a timetable for the reforms it plans to undertake as part of its EU accession process in the next four years, the statement said.
(Photo: EC Audiovisual Service)
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