The Council of the European Union today, February 28, approved the launch of the Ukraine Facility Instrument with a total volume of 50 billion euros for 2024-2027.
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This was reported by the press service of the Ministry of Finance of Ukraine.
The Ukraine Facility is a unique tool to support the economic development and recovery of Ukraine on its path to joining the EU. The instrument will provide unprecedented expected support based on jointly agreed plans and priorities by the Government of Ukraine and the European Commission, the department notes.
It is stated that within this instrument:
- Ukraine during 2024-2027 Ukraine will receive about 39 billion euros of direct budget funding, of which more than 5 billion are grants;
- a bridge financing mechanism is in place; after signing the relevant international agreements, it will open the way to obtaining the necessary financing in a shorter period of time before the start of the Facility. The signing of the Loan Agreement and Memorandum is expected in early March.
Source: Racurs
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