The European Union allocated the first tranche of €4.5 billion to Ukraine under the Ukraine Facility program. During 2024-2027, the EU will transfer €50 billion under this program.
This was reported by the Prime Minister of Ukraine Denys Shmyhal.
On February 1, the leaders of the European Union reached an agreement on the allocation of macro-financial assistance to Ukraine in the amount of €50 billion. The program is designed for four years.
Ukraine will be able to 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 for minorities.
The conclusions also suggest that EU leaders will debate the program every year, and in two years they can propose to the European Commission a review of the entire multi-annual financial framework.
At the beginning of this month, the European Commission confirmed that Ukraine will receive the first tranche of €4.5 billion in March, and the second — €1.5 billion — in April.
At the same time, two days ago, Prime Minister Shmyhal informed that the Cabinet of Ministers of Ukraine approved the plan for the Ukraine Facility program. In particular, it is about the introduction of European approaches to the reform of public administration, the fight against corruption, economic and sectoral reforms in various fields. The document also prescribed cross-cutting directions, such as the "green" transition, digitalization, and European integration.
If Ukraine implements reforms under the Ukraine Facility plan, it will receive €16 billion already this year.