The Council of the European Union has approved a decision to provide Ukraine with €1.8 billion under the Ukraine Facility.

Source : European Pravda, citing a statement from the Council of the EU

Details : It is noted that Ukraine has successfully completed nine steps required to obtain the fifth tranche of assistance.

The funding is intended to strengthen Ukraine's macro-financial stability and support the uninterrupted functioning of its public administration.

Payments under the Ukraine Facility are closely linked to the Ukraine Plan, which sets out the country's strategy for recovery, reconstruction and modernisation, as well as the reform implementation timetable aligned with Ukraine's EU accession goals over the coming years.

Background :

• Since the Ukraine Facility came into force, Ukraine has already received €6 billion in bridge financing, €1.89 billion in pre-financing, and four tranches amounting to approximately €4.2, €4.1, €3.5 and €3.2 billion respectively.
• Within the fifth tranche of European assistance to Ukraine under this programme, two reforms remain incomplete, so Ukraine will receive a partial disbursement – €1.35 billion instead of the expected nearly €2 billion.
• Meanwhile, along with the fifth tranche, the EU will also pay Ukraine almost €600 million for a reform that was to have been implemented earlier.
• In the draft decision, the EU Council notes that Ukraine has satisfactorily met the conditions for the partial disbursement of the fourth and fifth tranches, totalling €1,949,400,399 – €597,494,240 from the fourth tranche and €1,351,906,159 from the fifth.
• However, the Council's final decision does not provide details explaining the difference in amounts, nor does it specify the exact sum Ukraine will receive as part of this payment.
• Earlier, the government said that it would be able to obtain the full amount of funding from the EU for reforms under the Ukraine Facility.

Support Ukrainska Pravda on Patreon !