In the near future, Ukraine will receive 1.9 billion euros of unconditional funding from the European Union.
The EU authorities have finally approved the Ukraine Plan, which is necessary for the implementation of the Ukraine Facility program in the amount of 50 billion euros. Prime Minister Denis Shmygal announced this on Telegram on Tuesday, May 14.
“The approval of the Plan allows us to fully launch the Ukraine Facility – our state will receive 1.89 billion euros in initial funding. Overall, this year we expect to attract 16 billion euros as part of the program in the conditions of a full-scale war with Russia,” he wrote to Shmygal.
He thanked Belgium, which currently holds the EU Council presidency, and the EU member states for their high assessment of the Ukraine Plan.
In this regard, the Ministry of Finance announced the rapid receipt of a tranche from the EU.
“The procedure for launching direct budget support within the first part of the Ukraine Facility is almost complete. In the near future, Ukraine will receive 1.9 billion euros of unconditional funding,” the message said.
The department noted that Ukraine will receive the remaining part of the budget support quarterly after meeting the indicators provided for the Ukraine Plan.
Let’s recall that on February 1, EU leaders at a summit in Brussels agreed on a €50 billion support program for Ukraine called the Ukraine Facility. It is designed for the period of 2024-2027.
It is assumed that the receipt of funds for the Ukraine Facility depends on the implementation of 100 quarterly indicators by Kiev.
This year, Ukraine has already received 6 billion euros of financial support from the EU – in March and April – for the implementation of five indicators in the first quarter.
A further nine indicators must be met in the second quarter, resulting in €4.11 billion by September 2024.
Source: korrespondent
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