EU has allocated another tranche of EUR 1.5 billion to Ukraine
The European Commission has allocated the second installment of exceptional bridge financing to Ukraine under the EUR 1.5 billion mechanism for Ukraine.
This is reported with reference to the press service of the European Commission.
The allocation of funds was based on a positive assessment by the European Commission of the agreed political conditions related to reforms in the judiciary, anti-money laundering, public finance management, business environment, and agriculture, as well as reporting requirements to ensure transparent and efficient use of funds.
"Ukraine is carrying a heavy burden on its shoulders for all of us. The additional €1.5 billion we disburse today will ensure that Ukraine can continue to keep the State and basic services running for the population, while it fights back the aggressor," said European Commission President Ursula von der Leyen.
She added that the EU will work closely with the Ukrainian authorities to ensure the implementation of the Ukraine Plan, which is expected to be quickly agreed by the EU Council.
As a reminder, in early 2024, the European Union decided to provide Ukraine with large-scale financial assistance. At a special summit on February 1, EU leaders approved a €50 billion aid package to be provided to Ukraine until 2027.
The funds will be allocated under the Ukraine Facility program. This program provides for both grants and loans to Ukraine.
Author – Anastasiya Glotova, 24/04/2024
