Ukraine may receive almost €2 bln more from EU in May - European Commissioner
European Commissioner and Vice President of the European Commission Valdis Dombrovskis (Photo: Getty Images)
Ukraine may receive two more tranches of financial assistance from the EU this spring under the Ukraine Facility program. This includes the previously announced tranche of 1.5 billion euros in April and another one scheduled for May, according to European Commissioner and Vice President of the European Commission Valdis Dombrovskis.
As reminded by the Commissioner, Ukraine already received the first tranche from the European Commission in March under the Ukraine Facility program, amounting to 4.5 billion euros. The next payment is planned for April and will be 1.5 billion euros.
"The next step will be the European Commission's assessment of the Ukraine Plan, with a view to setting quarterly indicators of reform progress and spending, in order to open the way for the next tranches. We will complete this work very quickly and present our assessment to the EU Council. Once these conclusions are adopted, it will open up the possibility for Ukraine to receive €1.9 billion in pre-financing, probably in May," said Dombrovskis.
Ukraine Facility for Ukraine
On February 1 this year, EU leaders, during a special summit, supported providing Ukraine with 50 billion euros in assistance by 2027. The funds are to be gradually disbursed in tranches under the Ukraine Facility program.
The program stipulates that Ukraine must fulfill a series of conditions to receive the funds, including continuing reforms to combat corruption and more.
Read more about the Ukraine Facility program in the RBC-Ukraine article "EU pledges €50 billion to Ukraine. Funds allocated with stringent oversight for reforms."
