EU approves additional €2.8 billion in financial support for Ukraine

The European Commission has approved a new €2.8 billion tranche of budgetary assistance for Ukraine, bringing total disbursements under the European Union's Ukraine support programme to €29.5 billion since March 2024.

Speaking at a briefing in Brussels, European Commission spokesperson Guillaume Mercier said the latest payment represents the seventh tranche of funding provided through the EU's Ukraine Facility, a €50 billion financial support package designed to help stabilize Ukraine's economy and public finances amid the ongoing war with Russia, Caliber.Az reports per Russian media. 

According to the European Commission, the programme combines grants and loans to support Ukraine's budgetary needs, economic recovery, and reconstruction efforts.

Mercier noted that the €50 billion initiative is partially financed through loans backed by proceeds generated from the reinvestment of frozen Russian sovereign assets held in the European Union.

By Sabina Mammadli