European Commission disburses extra €1.9 billion to Ukraine in pre-financing
Last week, the European Commission disbursed almost €1.9 billion of pre-financing to Ukraine under the Ukraine Facility. This brings the total EU support to €7.9 billion already transferred to Ukraine since it became operational in March.
The new funding will support Ukraine’s macro-financial stability as it implements critical long-term structural reforms under the Ukraine Plan – Ukraine’s reform and growth plan for the next four years, which has been positively assessed by the Commission and the Council.
The pre-financing represents an advanced disbursement of 7% of the loan support that Ukraine is eligible to receive under the Ukraine Facility to support the implementation of the Ukraine Plan. The plan sets out reforms and investments that can boost sustainable economic growth and attract investments, amplifying the country’s growth potential in the medium-to-long term.
Quarterly payments under the Ukraine Facility will now follow, conditional on Ukraine meeting pre-agreed requirements, ensuring regular and predictable financial support to Ukraine.
“The EU is determined to continue helping Ukraine keep its state running as it fights for its freedom and takes forward reforms on its path to the EU. The Commission will support you every step of the way,” said European Commission President Ursula von der Leyen.
For the period 2024-2027, up to €50 billion in grants and loans will be provided under the EU’s Ukraine Facility to support Ukraine’s efforts to sustain macro-financial stability, promote short-term recovery as well as rebuild and modernise the country whilst implementing key reforms for its EU accession path.
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