Ukraine expects to receive the first payment of €4.5 billion from the new aid package from the European Union as early as March 2024.
This was reported by the press service of the Ministry of Economy of Ukraine.
Funding will take place within the framework of the Ukraine Facility program. The terms of the program will be determined between the European Council, the European Commission and the European Parliament, and the final regulations must be adopted by the European Parliament at the plenary session on February 26-29, 2024.
The Ukraine Facility program is designed for 2024-2027 with the allocation of €50 billion in grants and loans. The plan for the Ukraine Facility provides for structural reforms in the public sector, economic reforms, as well as steps to develop priority sectors that can ensure rapid economic growth.
The program also includes a special investment tool to cover risks in priority sectors, its volume is €8 billion. It is expected that the implementation of projects within the framework of this instrument will attract additional €30 billion of investments.
According to the conclusions of the European Council, the costs will be discussed every year for further recommendations.
- Today, February 1, the leaders of the EU member states unanimously agreed to provide financial support to Ukraine in the amount of €50 billion. €17 billion is direct financial aid to Ukraine, and the rest are loans that Kyiv will receive over the next four years.