The Council of the EU approved almost €4.2B through the Ukraine Facility for Ukraine.

The EU Council concluded that Ukraine had fulfilled the necessary conditions and implemented the required reforms that were established in the plan as prerequisites in order to receive the first regular payment.

The reform plan envisaged by the Ukraine Facility program contains nine indicators that had to be met before the end of June 2024 that include management of public finances, enterprises and public investments, business environment, energy, and demining. Considering Ukraine’s difficult financial situation, the EU Council also emphasized the importance of allocating the funds as soon as possible.

The Ukraine Facility defines Ukraine’s intentions regarding the recovery, reconstruction, and modernization of the country, as well as the reforms it plans to implement as part of the EU accession process over the next four years.

Payments are expected this month and will be directed to priority social and humanitarian expenditures in the state budget.