The EU will provide Ukraine with €3.4B in transition financing and allocate €121M for EBRD recapitalization to increase assistance to Ukraine.

The EC has made the first €4.5B payment of transitional financing for Ukraine, and the next payment of €1.5B is planned for this month, subject to Ukraine’s compliance with all established conditions. EC Vice President Valdis Dombrovskis stated this following approval of the measure by the Council of Ministers of the EU on Economy and Finance.

He noted that the EC presented the Ukrainian plan received from the country’s government for consideration by European ministers. It will become the main instrument for implementing the Ukrainian Facility in the EU budget for 2024-2027.

“The next step will be the EC’s assessment of the Ukrainian plan to establish quarterly indicators for assessing the state of reforms and spending. This will open an opportunity for Ukraine to receive €1.9B in pre-financing in May,” he said.

At the same time, the EU Council decided to increase the EU’s share in the EBRD: the EU will subscribe to 12,102 additional shares of €10,000 each until July 30, 2025. This should ensure the EBRD’s support in Ukraine’s reconstruction.