European Commission approves transfer of nearly 4.2 billion euros to Ukraine under Ukraine Facility
Photo: Ursula von der Leyen, President of the European Commission (Getty Images)
The European Commission has approved the transfer of the next tranche of the Ukraine Facility to Ukraine. It will amount to almost 4.2 billion euros, according to the head of the European Commission Ursula von der Leyen and the Prime Minister of Ukraine Denys Shmyhal.
"Today, the European Commission endorses releasing nearly €4.2 billion to Ukraine under the Ukraine Facility," she posted on her X.
She clarified that after the tranche is approved by the EU Council, the total funding for Ukraine under the Ukraine Facility will reach €12 billion.
According to von der Leyen, the European Union continues to support Ukraine's struggle for freedom and on its way to membership in the bloc.
Shmyhal's reaction
Prime Minister of Ukraine Denys Shmyhal said that almost 4.2 billion euros will strengthen Ukraine's financial stability.
“I am grateful to the European Commission for its positive assessment of Ukraine's progress and to President Ursula von der Leyen for her continued support,” he added.
What preceded it
Earlier this year, EU leaders approved the Ukraine Facility program, which provides €50 billion for Ukraine until 2027.
Ukraine receives these funds subject on condition that it implements a number of reforms. In total, the country has 151 indicators in 69 reform areas.
On July 16, it became known that Ukraine had requested more than €4.1 billion under the Ukraine Facility from the European Union, as it had met all nine indicators for the second quarter of 2024.
By the way, Ukraine's Defense Minister Rustem Umerov recently said that in August Ukraine would receive the first tranche of proceeds from Russia's frozen assets from the EU. It will amount to 1.4-1.5 billion euros.
