The Council of the European Union approved the allocation of €4.2 billion of macro-financial assistance to Ukraine in the form of grants and loans within the framework of the “Ukraine Facility” program.
This was reported by the Hungarian Presidency of the Council of the EU.
This decision supports the macro-financial stability of Ukraine and the functioning of its state administration.
The Council of the EU noted that Ukraine has fulfilled the necessary conditions and carried out the reforms envisaged for receiving the funds. These reforms cover the management of public finances and state-owned enterprises, the business environment, energy and demining.
The Council of the EU also emphasized the importance of allocating funds as soon as possible due to the difficult financial situation in Ukraine.
- The Ukraine Facility is a €50 billion macro-financial aid to Ukraine, designed for four years. EU leaders agreed on it on February 1, 2024. Ukraine will receive money if it continues democratic reforms, guarantees a multi-party parliamentary system and the rule of law, and respects human rights.