The Council of the EU approved providing Ukraine with €50 billion over three years
- Author:
- Liza Brovko
- Date:
The Council of the European Union approved the Ukraine Facility in the amount of €50 billion, which Ukraine will receive in 2024-2027. This became the final point in the initiation of the program.
The press service of the Ministry of Finance of Ukraine writes about this.
The Ukraine Facility program was created to support the economic development and recovery of Ukraine during its accession to the European Union.
During 2024-2027, Ukraine will receive about €39 billion of direct budget funding. Of these, €33 billion will come in the form of loans and €5.27 billion in the form of grants.
The rest of the money will be directed to a special investment instrument to cover risks in priority sectors and technical support in the implementation of reforms, as well as to cover interest on loans.
- Ukraine will receive the first tranche of EU aid from the €50 billion package in March. It will amount to €4.5 billion.