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EU sends first tranche from €50 billion aid package to Kyiv - Borrell

EU sends first tranche from €50 billion aid package to Kyiv - Borrell Photo: Head of EU diplomacy Josep Borrell (Vitalii Nosach, RBC-Ukraine)
Author: Liliana Oleniak

The European Commission paid out the first tranche of assistance within the framework of the Ukraine Facility for a total amount of EUR 50 billion. So far, 4.5 billion euros have been transferred, according to the head of EU diplomacy, Josep Borrell.

He says today the EU made the first payment of 4.5 billion euros from the Ukrainian Aid Fund for 50 billion euros to support the recovery, reconstruction, and modernization of Ukraine.

Borrell adds that tomorrow the European Council will discuss how to further accelerate Ukraine's accession to the EU.

At the same time, the European Commissioner for Enlargement and Neighborhood Olivér Várhelyi says that the next tranche will be in April.

Ukraine Facility program

On February 28, the Council of the EU finally approved the Ukraine Facility program, under which Ukraine will be provided with 50 billion euros of long-term loans until 2027.

In addition, on March 12, Ukraine and the EU signed an agreement on transitional financing for Ukraine. The total volume of the provided preferential funds is 6 billion euros. The first payment of 4.5 billion euros will reach the state budget of Ukraine already in March without conditions. The rest - 1.5 billion euros - Ukraine will be able to receive in April 2024 after the evaluation of the completed indicators by the European Commission.

As RBC-Ukraine reported, the tool for monitoring the use of EU funds for Ukraine under the four-year Ukraine Facility program for 50 billion euros will have three levels.