European Commission announces €6 billion aid tranche for Ukraine: Timing revealed
Valdis Dombrovskis, Vice-President of the European Commission (Photo: Getty Images)
Ukraine will receive financial assistance from the European Union in the amount of 4.5 billion euros in March and an additional 1.5 billion euros in April. The funds are provided within the framework of the Ukraine Facility program, according to an announcement by Vice-President of the European Commission Valdis Dombrovskis at a press conference with Prime Minister of Ukraine Denys Shmyhal.
He mentions that the European Union is finalizing the mechanism of the Ukraine Facility, under which Ukraine has been promised 50 billion euros by 2027.
The Vice-President of the European Commission states that the first tranche, totaling €4.5 billion, will be disbursed in March, followed by €1.5 billion in April.
50 billion euros for Ukraine
In February, during a special summit, the leaders of the European Union approved the initiative to provide Ukraine with 50 billion euros in financial assistance by 2027.
The funds will be provided within the framework of the Ukraine Facility. The program also stipulates that Ukraine must meet conditions for the transfer of funds.
Recently, the Council of the European Union finally approved the Ukraine Facility initiative.
According to information from RBC-Ukraine's sources, Ukraine is expected to receive 16 billion euros in 2024 alone.
