The EU will provide Ukraine with 1.8 billion euros in aid: where will the funding be directed?
фото: Генштаб
The Council of the European Union has approved the fifth tranche of macro-financial assistance to Ukraine under the Ukraine Facility, amounting to €1.8 billion. The funds will be allocated to support macroeconomic stability and the smooth functioning of the public administration system.
This was reported to the EU Council.
The document notes that Ukraine has successfully fulfilled nine of the ten necessary conditions for receiving this tranche, but one of the indicators of the previous stage remained unfulfilled.
This is about the reform of the National Agency of Ukraine for the Identification, Tracing and Management of Assets Obtained from Corruption and Other Crimes. The corresponding law was signed by Ukrainian President Volodymyr Zelensky on July 27, after the European Commission assessed Kyiv’s request.
The agreed package also includes 600 million euros that Ukraine did not receive with the previous tranche. However, even taking into account this amount, the total payment will be less than planned. Under the conditions of full implementation of all the benchmarks in the second quarter of 2025, Ukraine was supposed to receive 1.949 billion euros, but two of them could not be implemented.
In particular, we are talking about legislation on the verification of judges’ declarations of integrity and the adoption of a law on the enforcement of court decisions in property and non-property cases.
The Ukraine Facility is a large-scale economic assistance program from the European Union, designed for four years, until 2027. The total amount of funding is 50 billion euros, of which 33 billion are provided in the form of loans and 17 billion in the form of grants.
The program envisages the implementation of 69 reforms in 15 sectors, including public administration, the judiciary, the fight against corruption, public asset management, energy, decentralization, transport and digital transformation. The assessment of the implementation of the conditions takes place every three months by the European Commission. The next review of the results is expected in early 2025.
We remind you that Ukraine received another tranche of financial assistance from the European Union – 4 billion euros as part of the international G7 ERA (Extraordinary Revenue Acceleration) initiative.
As reported, the European Commission has developed a new initiative that involves using the proceeds from frozen Russian assets to finance a large-scale loan to Ukraine . This is an amount of 140 billion euros, which Kyiv will be able to receive to support the budget and strengthen the defense sector.
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