Ukraine receives one other €3.5bn from EU beneath in depth support programme

The European Fee transferred one other tranche to Ukraine beneath the Ukraine Facility programme on Tuesday 1 April.

Supply: Ukraine's Prime Minister Denys Shmyhal, as reported by European Pravda

Particulars: The European Fee has transferred €3.5 billion to Ukraine beneath the Ukraine Facility. Shmyhal famous that these funds will assist the nation to additional keep macroeconomic stability.

"The European Fee has famous our nation's dedication to implementing reforms on the trail to full EU membership," he mentioned.

Shmyhal added that the full monetary help beneath the Ukraine Facility has reached €19.6 billion.

Ukraine's Financial system Minister Yuliia Svyrydenko defined that of the €3.5 billion obtained, €3.1 billion got here in concessional loans and €400 million in grants. These funds will help key funds priorities and important expenditures.

Svyrydenko talked about that the funding had been granted after Ukraine had fulfilled all the necessities of the Ukraine Plan for the fourth quarter of 2024, masking 13 indicators corresponding to aligning Ukrainian laws with European requirements, advancing digital transformation and strengthening power independence.

"We fulfilled a complete of 36 indicators final yr. That is the primary time within the historical past of Ukraine that every one the symptoms of the reform programme set for the yr have been fulfilled. Our purpose for this yr is much more bold: to fulfil 56," she added.

Background:

• In 2024, the G7 reached an settlement to collectively present Ukraine with a US$50 billion mortgage derived from the proceeds of frozen Russian belongings. The funds will probably be formally provided as a mortgage however will probably be repaid utilizing these proceeds.
• On 20 March, the European Fee disbursed an extra €1 billion tranche to Ukraine.
• On the identical day, European Fee Vice President Valdis Dombrovskis acknowledged that the EU would proceed to financially help Ukraine in 2025 utilizing the proceeds from frozen Russian belongings and the Ukraine Facility programme.
• The Ukraine Facility programme, which got here into pressure on 1 March 2024, supplies as much as €50 billion in secure funding within the type of grants and loans to help Ukraine's restoration, rebuilding and modernisation for the interval from 2024 to 2027.

Assist Ukrainska Pravda on Patreon!