EU Council approves new €1.8 billion aid tranche for Ukraine

The Council of the European Union (EU) has allocated a new €1.8 billion aid tranche to Ukraine under the Ukraine Facility program.

The amount reflects Ukraine’s fulfilment of nine criteria for the fifth disbursement and one remaining requirement from the fourth, Caliber.Az reports, citing a statement published on the EU Council’s website.

“The funding aims primarily to bolster Ukraine’s macro-financial stability and support the continued operation of its public administration,” the statement read.

The Ukraine Facility, which took effect on March 1, 2024, allocates up to €50 billion in grants and loans to support Ukraine’s recovery, reconstruction, and modernisation between 2024 and 2027.

Of this total, around €32 billion is provisionally designated to fund the reforms and investments outlined in the Ukraine Plan, with disbursements tied to the achievement of specific indicators.

Since its launch, the Facility has provided €6 billion in bridge financing, €1.89 billion in pre-financing, and four instalments totalling approximately €4.2, €4.1, €3.5, and €3.2 billion, respectively.

In total, EU member states have extended around €179.8 billion in assistance to Ukraine since 2022.

By Jeyhun Aghazada