EU Council Approves €4.2bn of Macro-Financial Assistance to Ukraine

The Council of the European Union on Tuesday approved the allocation of €4.2 billion in macro-financial assistance to Ukraine in the form of grants and loans under the Ukraine Facility programme.

This was reported by the press service of the EU Council and the Hungarian Presidency of the EU Council on Platform X.

The decision was made following a written procedure.

"The Council has today adopted an implementing decision authorising the first disbursement of almost €4.2 billion under the Ukraine Facility. This decision supports Ukraine's macro-financial stability and the functioning of its public administration," the statement said.

The EU Council noted that Ukraine has fulfilled the necessary conditions and reforms set out in the Ukraine Plan to receive the funds.

These reforms include public financial management, management of state-owned enterprises, business environment, energy and demining. 

The Council also stressed the importance of disbursing funds as soon as possible, given the difficult financial situation in Ukraine.

The Ukraine Plan sets out Ukraine's intentions for recovery, reconstruction and modernisation, as well as the reforms it plans to implement as part of the EU accession process over the next four years.

In May 2024, the EU Council concluded that the Ukraine Plan meets the prerequisites for Ukraine to receive up to €50 billion in support under the Ukraine Facility.

As The Gaze previously reported, in July, EU ambassadors approved the disbursement of the first €4.2 billion payment under the Ukraine Plan reform plan under the Ukraine Facility.