Ukraine is set to receive another tranche from the Ukraine Facility Program, amounting to €50 billion, as announced by European Commission President Ursula von der Leyen. The EU has already allocated €12 billion since the program’s inception in March 2024. This program, running from 2024 to 2027, aims to support Ukraine’s reform plan implementation through investments.
The Ukraine Facility Framework, a part of the program, offers financial assistance through three pillars. Pillar I consists of €38.27 billion for state budget and private enterprises, with grants and loans subject to reform requirements for EU accession. Pillar II focuses on public and private investments for Ukraine’s recovery, managed by the Ministry of Economy. Pillar III provides technical assistance and support measures for aligning Ukraine with EU laws and regulations.
The previous tranche of €4.2 billion was transferred in August, marking progress in the program’s support for Ukraine post-Russian invasion. This initiative strengthens Ukraine’s resilience, aids in recovery, and paves the way for potential EU membership, facilitating growth and stability in the region.
Source link