EU Disburses First Tranche of €4.2 Billion under Ukraine Facility to Ukraine
The European Commission has transferred almost €4.2 billion to Ukraine as part of the first tranche of the Ukraine Facility programme.
The Delegation of the European Union to Ukraine reported this on its website.
The European Commission reminded that after considering the payment request submitted by Ukraine, the EU Council endorsed the Commission's assessment that Ukraine had satisfactorily met nine reform indicators related to the first quarterly payment. These conditions, covering public financial management, management of state-owned enterprises, business environment, energy and demining, were set out in the Ukraine Plan.
"Today's payment follows the first disbursements made under the programme, namely €6 billion in bridge financing and €1.9 billion in pre-financing, and is a testament to the rapid implementation of the Ukraine Plan," the European Commission said.
At a government meeting last week, Ukrainian Prime Minister Denys Shmyhal said that Ukraine expects a €4.2bn tranche under the Ukraine Facility programme in the near future.
As The Gaze previously reported, the Council of the European Union has 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.
These are funds under the macro-financial assistance programme for Ukraine worth up to €50 billion (for more details, see Ukraine Facility: What and how €50 billion from the EU will be spent).
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.