EU funds Ukraine reforms and reconstruction
The Council of the European Union has approved macro-financial assistance of approximately 3.5 billion euros for Ukraine, according to a press release published on its website on Monday, March 17.
This is the third tranche of non-refundable loans and grants from the Ukraine Support Fund, as reported by DW.
With this payment, the total funds allocated to Kyiv since the Fund's launch in 2024 will reach 20 billion euros.
Brussels acknowledges Ukraine's progress in implementing reforms.
The EU Council stated that Ukraine has met the conditions to receive the third tranche of the Ukraine Support Fund. According to the document, the reforms aim to expand the use of renewable energy, increase the autonomy of the energy regulatory authority, simplify border crossing procedures to EU standards, adopt a strategy for agriculture and rural development, including the demining of agricultural land. Ukraine is also working on developing a list of the country's strategic and critical resources.
In February 2024, the EU Council approved the 50 billion euro Ukraine Support Fund. The funds, for the four-year period 2024-2027, will be provided to Kyiv as grants and loans. They are intended to cover both Ukraine's short-term needs and the medium-term objectives of reconstructing and modernizing the country.
Translation by Iurie Tataru
