The European Union may allocate 1.5 billion euros to Ukraine in April and 1.9 billion euros in May under the Ukraine Facility.
The European Union may allocate another 1.5 billion euros to Ukraine under the Ukraine Facility in April and 1.9 billion euros in May. However, the European Commission expects Kiev to fulfill previously agreed conditions and for the European Council to approve Ukraine’s plan. This was announced by the Executive Vice President of the European Commission Valdis Dombrovskis, reports Interfax-Ukraine.
“The next payment (to the Ukraine Facility) in the amount of 1.5 billion euros is scheduled for this month if the policy conditions are met,” he said.
According to Dombrovskis, the European Commission is assessing Ukraine’s plan to draw quarterly indicators of reforms and investments that need to be made to unlock future payments.
“We will soon complete this work and submit the assessment to the European Council. Once approval is received, it will pave the way for Ukraine to receive initial funding in the amount of 1.9 billion euros, most likely in May,” the executive vice president. mentioned.
He noted that the Ukraine Facility for 50 billion euros for the period until 2027 is a lifeline from the EU at a very difficult time to help Ukraine maintain basic public services and ensure the functioning of the state. He recalled that the first tranche of 4.5 billion euros as part of the transitional financing was allocated in March.
The Ukraine Plan is the main instrument for implementing the Ukraine Facility and focuses on structural reforms to remove obstacles to growth, investment in key sectors and measures to advance Ukraine’s integration with EU rules and standards as part of its ascent path.
Let’s remember that in general, Ukraine expects to receive billions in 2024 within the framework of the Ukraine Facility, with a total need for external financing of the budget deficit this year of 37.3 billion euros.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.