European Commission Releases €3.5 Billion Tranche to Ukraine

The Prime Minister of Ukraine, Denys Shmyhal, announced on his social media that the European Commission has transferred €3.5 billion of the third tranche to Ukraine under the Ukraine Facility initiative. These funds will help Ukraine continue to maintain its macroeconomic stability.

‘The European Commission has recognized our country's commitment to implementing reforms on the path to full EU membership. The total financial assistance under the Ukraine Facility has already reached EUR 19.6 billion,’ Denys Shmyhal commented.

According to The Gaze, these reforms aimed at increasing the use of renewable energy, strengthening the independence of the energy regulator, simplifying border crossing procedures in line with EU standards, adopting a strategy for the development of agriculture and rural areas (including the demining of agricultural land), and continuing to work on defining a list of strategic and critical raw materials.  

The Ukraine Facility is the European Union’s financial assistance program for the period of 2024-2027. A total of €50 billion from the EU will be allocated to finance the state budget, stimulate investment, and provide technical support in the program’s implementation.

As The Gaze previously reported, Vice President of the European Commission and European Commissioner for Trade Valdis Dombrovskis said that in 2025 Ukraine would receive €35 billion in financial assistance from the European Union under the G7 ERA initiative and the Ukraine Facility programme.