Ukraine is to receive a new tranche from the EU this week

This week, Ukraine expects to receive a €1.5 billion tranche from the European Union under the Ukraine Facility program.

This is reported with reference to the speech of the Prime Minister of Ukraine Denys Shmyhal during a meeting of the Cabinet of Ministers.

"The European Commission has supported Ukraine's Plan under the Ukraine Facility program. And this week we expect to receive €1.5 billion under this EU program," Shmyhal said.

According to the Prime Minister, today the government is also adopting a decision that will help attract an additional EUR 100 million from the Council of Europe Development Bank to restore Ukrainian medicine.

Another decision adds EUR 15 million from the European Investment Bank as part of the financing of the bank guarantee program.

"This will improve the conditions for obtaining soft loans for Ukrainian small and medium-sized enterprises. Thus, we are accumulating financial resources for defense, resilience, and the recovery of our country and our economy," Shmyhal said.

As a reminder, on February 1, during a special summit, EU leaders supported the provision of EUR 50 billion to Ukraine by 2027. The funds are to be disbursed under the Ukraine Facility program.

The program also requires Ukraine to fulfill certain conditions in order to receive financial assistance from the EU. If this does not happen, the disbursement of funds will be suspended.

Author – Anastasiya Glotova, 23/04/2024