Shmyhal details Ukraine's path to receiving €50 billion from EU by 2027
Prime Minister of Ukraine, Denys Shmyhal (Photo: Vitalii Nosach-RBC-Ukraine)
Ukraine will receive 6 billion euros from the European Union by May under the Ukraine Facility program, which entails the transfer of 50 billion euros by 2027. Then our country will begin to fulfill the conditions for further financial assistance, according to a statement from Ukrainian Prime Minister Denys Shmyhal.
The head of the government reminded that Ukraine has already received the first 4.5 billion euros from the European Union under the Ukraine Facility. In April, another 1.5 billion euros is expected to be transferred.
"And further, starting in May, we will implement certain measures and reforms outlined in the Ukrainian plan (Ukraine Facility). There are approximately 70 to 100 measures. They will be implemented over 4 years," Shmyhal said.
According to him, Ukraine will receive tranches from the EU every quarter.
Ukraine Facility
In early February, EU leaders approved the Ukraine Facility program at a summit. It envisages the transfer of 50 billion euros to Ukraine by 2027.
Also, according to the program, Ukraine must fulfill certain conditions to receive financial assistance from the EU. If this does not happen, the payment of funds will be suspended.
On February 28, the EU Council finally approved the program. This meant that it had come into force, and our country could receive the first funds.
Today, March 20, EU foreign policy chief Josep Borrell announced that the European Commission has disbursed the first tranche of 4.5 billion euros to Ukraine.
