Ukraine receives key EU funding amid crisis
Ukraine receives 3.5 billion euros in EU financial aid under the Ukraine Facility.
This is the third tranche granted to Kyiv, and the total amount of support provided through this mechanism has reached 19.6 billion euros, according to an announcement published on Tuesday, April 1, by Ukrainian Prime Minister Denys Shmyhal.
"These funds will bolster macroeconomic stability. We appreciate the continued support and solidarity with Ukraine during these challenging times. Together, we will persevere and rebuild," the Ukrainian Prime Minister stated.
The European Commission states this tranche aims to enhance Ukraine's macro-financial stability, promote good governance, and advance key long-term structural reforms. Brussels mentioned that the Ukrainian authorities have fulfilled all the necessary conditions to benefit from this payment.
What is the Ukraine Facility?
The Ukraine Facility is a European Union support fund with a total value of 50 billion euros, designed to support Ukraine in the period 2024–2027. Officially launched on March 1, 2024, the program is the largest assistance package ever offered by the EU to a non-member state.
The mechanism provides for grants and loans to finance Ukraine's reconstruction, modernization, and economic recovery efforts, in accordance with action plans agreed upon between the Kyiv authorities and the European institutions.
Translation by Iurie Tataru
