EU Ambassadors Approve €4.2 Billion Macro-Financial Assistance to Ukraine under Ukraine Facility

EU ambassadors have approved a tranche of macro-financial assistance for Ukraine in the amount of about €4.2 billion under the Ukraine Facility programme.

This is reported on the account of the Hungarian Presidency of the Council of Europe in the X network.

The tranche will be used to support Ukraine's macro-financial stability and the functioning of its public administration.

The EU ambassadors approved the disbursement of the first instalment of 4.2 billion under the Ukraine Plan reform plan under the Ukraine Facility. The next step is for the EU Council to approve the decision.

On 17 July, the European Commission gave its positive assessment of the possibility of disbursing this tranche. The EC concluded that Kyiv had satisfactorily fulfilled nine reform indicators. 

The funds are part of a macro-financial assistance programme for Ukraine worth up to €50 billion.

Ukraine received the first tranches without conditions, and the basis for receiving the next tranches is the implementation of a specific reform plan in a number of areas.

The EU is also setting up a body to monitor funding under the Ukraine Facility.

As The Gaze previously reported, in April, the European Union allocated the second tranche of funding to Ukraine under the Ukraine Facility programme in the amount of €1.5 billion to support the functioning of the Ukrainian state.