Ukraine gets reduced EU tranche: Exact sum disclosed
Photo: Yulia Svyrydenko, Prime Minister of Ukraine (Getty Images)
The EU Council has approved a new tranche for Ukraine under the Ukraine Facility program. The allocation amounts to over 3 billion euros, according to Ukrainian Prime Minister Yulia Svyrydenko and the EU Council's press service.
"The Council of the EU has approved €3.056 billion for Ukraine under the Ukraine Facility," the head of government said.
She noted that the new tranche is a sign of trust in Ukraine’s reform path and its ability to maintain stability even in the most challenging times.
Svyrydenko thanked the Danish presidency of the EU Council for its strong support.
"Every decision to stand with Ukraine brings us closer to a strong nation in a united Europe," the Prime Minister emphasized.
The EU confirms the tranche
The EU Council has confirmed that the new tranche for Ukraine under the Ukraine Facility has been approved.
"Ukraine is set to receive over €3.2 billion in funding," the EU Council statement says.
It also specifies that the funding is primarily aimed at strengthening Ukraine’s macro-financial stability and supporting the functioning of its public administration.
Tranche was cut
Earlier, European Commission spokesperson Guillaume Mercier said that on June 6, Ukraine requested a new tranche of 3 billion euros instead of the initially expected 4.5 billion euros.
Mercier explained that to receive 4.5 billion euros for the quarter, Ukraine had to implement 16 reforms, but completed only 13. As a result, the tranche amount was cut.
A source familiar with the matter told RBC-Ukraine that the payment was delayed due to the controversial law on NABU and SAPO, which limited the independence of these institutions.
The source also clarified that Ukraine could still receive the remaining 1.5 billion euros by the end of the year if all reforms are implemented.
