EU has approved disbursement of nearly 3 billion euros to Ukraine for implementing reforms under Ukraine Facility
Ukraine will soon receive nearly 3 billion euros under the Ukraine Facility. The Council of the EU has approved the eighth regular tranche following Ukraine’s completion of the ten milestone actions set out in the Ukraine Plan.
According to Censor.NET, this is stated in an official announcement by the Council of the EU.
Nearly 800 million euros of the approved amount will be disbursed for the first time under the Ukraine Support Loan.
According to the Council of the EU, Ukraine has so far completed 84 of the 95 targeted steps it was required to implement under the Ukraine Plan at this stage. This represents approximately 88% of the planned measures.
Funding under the Ukraine Facility is aimed at supporting Ukraine’s macrofinancial stability, the country’s recovery and modernization, the functioning of public administration, and the implementation of reforms.
In addition, on September 24, the Council of the EU amended the Ukraine Plan to include a voluntary financial contribution from Norway—1 billion Norwegian kroner, or approximately 92 million euros, in grant assistance.
Norway became the first country outside the European Union to contribute to the first component of the Ukraine Facility—"Support for Ukraine through the Ukraine Plan." Sweden contributed an additional 253 million euros over the past year, and the United Kingdom recently allocated more than 17 million euros to the second component—the Ukraine Investment Framework.
The Ukraine Facility entered into force on March 1, 2024, and provides for over 50 billion euros in grants and loans for the recovery, reconstruction, and modernization of Ukraine until 2027. Over 40 billion euros of this amount are earmarked for reforms and investments outlined in the Ukraine Plan, and disbursements are contingent upon the achievement of the targets set forth therein.
Following the disbursement of the eighth tranche, the total amount of funds received by Ukraine under the Ukraine Facility since mid-2024 will exceed 32 billion euros.
