The loan agreement will allow Ukraine to attract up to 27 billion euros in 2024-2027 to support the state budget.
Ukraine and the European Commission signed a loan agreement within the framework of the Ukraine Facility program. The press service of the National Bank reported this on Monday, June 24.
On behalf of Ukraine, the agreement was signed by the head of the NBU, Andriy Pyshny, and the Minister of Finance, Sergei Marchenko. Today the document was also signed by partners from the European Commission.
The loan agreement will allow Ukraine to attract up to 27 billion euros in 2024-2027 to support the country’s state budget from the total volume of 50 billion euros from the EU Ukraine Facility instrument.
“The funds received under this agreement will provide targeted and flexible support to our state, adapted to the unprecedented challenges caused by the war in the Russian Federation,” the National Bank said.
In the near future after this agreement enters into force, Ukraine will also receive 1.9 billion euros of unconditional funding from the EU.
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. There are nine more indicators that must be met in the second quarter.
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.