Ukraine and EU sign €27 billion loan agreement under Ukraine Facility
Photo: Ukraine and the EU signed a loan agreement under the Ukraine Facility (Getty Images)
Ukraine and the European Union have signed a €27 billion loan agreement under the Ukraine Facility. The document was signed by the Minister of Finance of Ukraine Sergii Marchenko and the Governor of the National Bank of Ukraine Andriy Pyshnyy, according to the press service of the National Bank of Ukraine (NBU).
According to the NBU, the loan agreement will allow Ukraine to attract up to €27 billion in 2024-2027 to support the country's state budget out of the total amount of €50 billion under the EU's Ukraine Facility.
"The funds received under this agreement will provide predictable and flexible support to our country, adapted to the unprecedented challenges caused by the war with Russia," the bank's press service said.
In addition, shortly after the agreement comes into force, Ukraine will also receive €1.9 billion in non-resource financing from the EU.
Ukraine Facility
The EU has approved the Ukraine Facility program, which provides for the transfer of €50 billion in financial assistance to Ukraine until 2027.
Ukraine has already received two tranches under the program - €4.5 billion and €1.5 billion.
The program also stipulates that the Ukrainian government must implement reforms to continue receiving funds.
