European Commission allocates EUR 1.5 billion tranche to Ukraine
24 April 2024 16:00
The European Commission has allocated another tranche of macro-financial assistance to Ukraine as part of a €50 billion support package. European Commission President Ursula von der Leyen wrote about this in a letter to the President of the European Parliament, Komersant ukrainskyi 
reports.
“Ukraine is carrying a heavy burden on its shoulders for all of us. Today, we are allocating an additional €1.5 billion as part of the €50 billion for Ukraine. This is vital to keep Ukraine’s state and services working while it fights back against the aggressor. Europe remains united and determined,”
– wrote the EC President.
The first disbursement under the Ukraine Facility programme took place in March, when Ukraine received €4.5 billion from the EU.
Ukraine Facility
In February, the EU approved the Ukraine Facility, a €50 billion financing mechanism for Ukraine for the period 2024-2027. The programme consists of €17 billion in grants and €33 billion in loans. The mechanism provides not only for financing budgetary areas in Ukraine during the war, but also for programmes aimed at implementing the reforms on which Ukraine’s accession to the EU depends.
The programme’s resolution states that the EU’s support should be directed in three areas:
- Financial support for Ukraine to implement reforms and investments, and to maintain the country’s macro-financial stability, as envisaged in the Ukraine Plan to be developed by the Ukrainian government.
- Ukraine’s investment framework to mobilise investment and increase access to finance.
- Assistance on the path to European integration to mobilise technical expertise and build capacity.
