EU Council approves another €2.3 billion tranche for Ukraine
Illustrative photo: flags of Ukraine and the EU (Getty Images)
Ukraine will soon receive about €2.3 billion, as the Council of the European Union has approved a decision to allocate the sixth tranche of support under the Ukraine Facility, according to the Council of the European Union and Ukraine’s Prime Minister Yulia Svyrydenko.
The European Union noted that the payment became possible due to Ukraine’s successful completion of eight required steps for this tranche, as well as the fulfillment of one previously outstanding condition related to the fourth tranche.
According to the EU, the funds will be directed primarily toward strengthening Ukraine’s macro-financial stability and ensuring the uninterrupted functioning of public administration.
The European Commission emphasizes that the support program is closely linked to the Ukraine Plan, which outlines Ukraine’s strategy for recovery, reconstruction, and modernization, as well as a timetable for implementing the reforms needed for further progress toward EU membership.
To date, Ukraine has completed 63 out of the 68 steps required under the current phase of the program.
As Ukrainian Prime Minister Yulia Svyrydenko noted, Ukraine has fulfilled 8 of the 10 indicators set out in the Ukraine Plan and has implemented a number of systemic reforms in public finance management, the green transition and environmental protection, as well as in improving the business climate, financial markets, and the judicial system.
"This sixth tranche under the current program is essential for ensuring Ukraine’s financial resilience during the full-scale invasion," Svyrydenko said.
She assured that the government is working to improve compliance with the Ukraine Facility conditions during the next reporting period.
Ukraine Facility
The European Union’s financial program aimed at supporting Ukraine during the war and its post-war recovery — the Ukraine Facility — entered into force on 1 March 2024. It provides up to €50 billion in grants and loans to support recovery and reforms during the 2024–2027 period.
Of this amount, up to €32 billion is expected to be allocated for financing the reforms and investments outlined in the Ukraine Plan. Payments are made depending on the fulfillment of specific indicators.
Ukraine received the fifth tranche of funding under the Ukraine Facility — worth more than €1.8 billion — on 5 November. The previous tranches amounted to approximately €4.2 billion, €4.1 billion, €3.5 billion, and €3.2 billion.
