EU provides Ukraine with billions in aid ahead of Independence Day
The European Union has provided over four billion euros (£3.4bn; $4.7bn) in financial aid to Ukraine just ahead of its Independence Day, according to The Kyiv Independent.
"As Ukraine celebrates its 34th Independence Day, the EU is sending a clear message: our solidarity with Ukraine is unwavering. This new funding package underscores our commitment not only to Ukraine's recovery but also to its future as a sovereign and democratic country," said European Commission President Ursula von der Leyen. "Because when Ukraine is strong, Europe is stronger."
The package includes €3bn (around £2.5bn; $3.5bn) from the Ukraine Facility and an additional €1bn (around £850m; $1.2bn) from the European Commission's exceptional Macro-Financial Assistance mechanism.
The Ukraine Facility was approved in February 2024 as a four-year programme providing €33bn (£28bn; $36bn) in loans and €17bn (£14bn; $18bn) in grants to stabilise the Ukrainian economy and support its post-war recovery.
The fund will also support the country's restoration, reconstruction, and modernisation, and aims to back reforms required for its EU accession.
This comes as a notable step forward in Ukraine's reform efforts, especially after a recent scandal in which the Ukrainian parliament passed and later revoked a bill that would have limited the independence of key anti-corruption institutions.
Since Russia's full-scale invasion of Ukraine began in February 2022, the EU and its member states have provided more than €168.9bn (£144bn) in humanitarian, financial, and military assistance.
Translation by Iurie Tataru
