European Commission endorses releasing nearly €4.2 billion to Ukraine

The European Commission on Thursday gave a positive assessment for the first regular payment of nearly €4.2 billion under the EU's Ukraine Facility.

This funding aims to support Ukraine's macro-financial stability and the functioning of its public administration, the European Commission said in a statement, News.Az reports.

Once adopted by the Council, this decision will bring to €12 billion the total EU funding disbursed to Ukraine since the Facility became operational in March this year.

Regular quarterly payments under the Ukraine Facility are conditional on Ukraine meeting pre-agreed requirements, and ensure predictable financial assistance. This first regular payment under the Facility will follow the previous bridge and pre-financing support, and is a testament to the swift implementation of the Ukraine Plan.

Following the assessment of the payment request submitted by Ukraine on 9 July 2024, the Commission has concluded that Ukraine has satisfactorily fulfilled the nine reform indicators linked to the first regular payment in support of the Ukraine Plan, Ukraine's reform and investment strategy for the next four years. These reforms cover public financial management, governance of state-owned enterprises (SOEs), business environment, energy and demining.

News.Az