EU Commission names date for first tranche to Ukraine under €50 billion program
Photo: Ursula von der Leyen (Vitalii Nosach, RBC-Ukraine)
The first tranche of the €50 billion Ukraine Facility program will be disbursed to Ukraine in March. The EU will continue to support its aspiring member, according to European Commission President Ursula von der Leyen.
The political agreement on the program concluded on the evening of February 5, is an important step forward.
"Europe is true to its word," she says, noting that the EU will continue to provide much-needed and predictable funding to "our brave partner and aspiring member".
"We aim to start payments in March," she adds.
Program for Ukraine
On February 1, the leaders of the European Union approved the allocation of €50 billion for Ukraine under the Ukraine Facility program for 2024-2027 during the summit.
On February 5, the EU Council and the European Parliament reached a preliminary agreement on creating a new instrument to support the recovery, reconstruction, and modernization of Ukraine, the Ukraine Facility.
The European Parliament must approve the document at its plenary session scheduled for February 26-29, 2024.
Ukraine expects to receive the first payment of €4.5 billion in March. President of Ukraine Volodymyr Zelenskyy says that Ukraine wants to receive €18 billion in the program's first two years.
