The European Commission approved the allocation of almost €4.2 billion to Ukraine under the Ukraine Facility program

The European Commission has approved the allocation of the first regular payment of almost €4.2 billion to Ukraine under the Ukraine Facility program. Further, this decision must be approved by the Council of the European Union.

This is stated on the website of the European Commission.

Based on the results of the assessment of the payment request submitted by Ukraine on July 9, the European Commission decided that Kyiv had satisfactorily implemented nine reform indicators. These include, in particular, the reform of the Bureau of Economic Security, the approval of the Integrated National Energy and Climate Plan, and the entry into force of the law on corporate governance for state-owned companies.

After receiving these funds, the total amount of funding from the EU within the Ukraine Facility will reach €12 billion.

"Today, the European Commission approved the allocation of almost €4.2 billion to Ukraine under the Ukraine Facility. The EU continues to resolutely support Ukraineʼs struggle for freedom and the path to the EU," said the President of the European Commission, Ursula von der Leyen.

Ukraine has already received three tranches under the Ukraine Facility. In March, the EU transferred €4.5 billion, in April — €1.5 billion, and in June — €1.9 billion.

More about Ukraine Facility

On February 1, EU leaders agreed to allocate €50 billion in macro-financial assistance to Ukraine. The program is designed for four years. Ukraine will receive funds for compliance with a number of prerequisites: the continuation of democratic mechanisms, including a multi-party parliamentary system and the rule of law, guaranteeing respect for human rights, in particular minorities. Kyiv has already approved a reform plan that will allow it to receive financing under the Ukraine Facility.

EU leaders will debate the program every year, and in two years they can propose to the European Commission a review of the entire multiannual financial framework.

According to the estimated payment plan, Ukraine will receive €16 billion in 2024, €12.5 billion in 2025, €7.25 billion in 2026, and €2.5 billion in 2027.