Ukrainian PM discusses €50 bln program with European Commissioner: First tranche terms announced
Denys Shmyhal and Ursula von der Leyen (Photo: t.me/Denys_Smyhal)
Prime Minister Denys Shmyhal, in a meeting with European Commission President Ursula von der Leyen, announced that Ukraine and the European Commission have coordinated the following steps within the Ukraine Facility initiative, which entails the allocation of 50 billion euros over four years. The first tranche will be disbursed to the Ukrainian budget early this spring.
"We discussed our cooperation in the defense industry sector and coordinated the next steps within the Ukraine Facility initiative, which involves financing 50 billion euros over four years. Ms. Ursula informed that the first tranche of 4.5 billion euros will arrive in March," said the Prime Minister.
Shmyhal also mentioned that during the meeting with Ursula von der Leyen, he raised the issue of the situation on the border with Poland and presented Ukraine's plan to resolve the crisis.
"We count on constructive trilateral dialogue," he emphasized.
Ukraine Facility program
On February 1, EU leaders approved the allocation of 50 billion euros to Ukraine under the Ukraine Facility program for 2024-2027 at a special summit in Brussels.
On February 5, the EU Council and the European Parliament agreed on creating a new instrument to support the recovery, reconstruction, and modernization of Ukraine, the Ukraine Facility.
The European Parliament will approve the document at the plenary session scheduled for February 26-29, 2024.
President of Ukraine Volodymyr Zelenskyy stated that Ukraine aims to receive 18 billion euros in the first two years of the program.
