European Commission approves allocation of over €4 billion to Ukraine under Ukraine Facility
Photo: Prime Minister of Ukraine Denys Shmyhal (Vitalii Nosach, RBC-Ukraine)
The European Commission has approved the allocation of 4.1 billion euros to Ukraine. These funds will be provided under the Ukraine Facility, announces Prime Minister Denys Shmyhal.
Shmyhal explained that the European Commission has given a positive assessment of the reforms and noted that the government has met the necessary criteria to receive this tranche.
"We expect a swift approval of the decision by the EU Council. After that, the total support under the Ukraine Facility this year will amount to 16.1 billion euros," the Prime Minister emphasized.
At the same time, he thanked the EU for its unwavering support of Ukraine.
"Even amid the full-scale war with Russia, we continue to reform and transform to bring ourselves closer to Europe and full EU membership," Shmyhal said.
This year, the EU Council and the European Parliament reached a preliminary agreement on the creation of a new instrument to support the recovery, reconstruction, and modernization of Ukraine, the Ukraine Facility, amounting to 50 billion euros for the period 2024-2027.
Ukrainian President Volodymyr Zelenskyy stated that Ukraine aims to receive 18 billion euros annually in the first two years of the program's operation.
