EU ambassadors agreed to allocate almost €4.2 billion to support Ukraine

The ambassadors of the countries of the European Union approved the first tranche within the framework of the Ukraine Facility program. This will allow Ukraine to receive almost 4.2 billion euros.

This was announced by the Hungarian Presidency of the Council of the EU.

The next step in the process of transferring funds will be the transition of the Council of the European Union to a written procedure.

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✅ Today, Ambassadors adopted the first installment under the Ukraine Plan of the Ukraine Facility Regulation, paving the way for the transfer of nearly €4.2 billion to support Ukraine's recovery, reconstruction, and modernization. As a next step, the @EUCouncil will move ahead with a… pic.twitter.com/4XIG7iDMSl

— Hungarian Presidency of the Council of the EU 2024 (@HU24EU) July 24, 2024

We will remind you that the European Commission plans to provide Ukraine with a loan of 50 billion dollars secured by the frozen assets of the Russian Federation to support Ukraine.

It should also be noted that on June 24, European countries approved the first tranche of the proceeds of frozen Russian assets in the amount of up to 1.4 billion euros to help Ukraine.

Earlier, Vice President of the European Commission Valdis Dombrovskis said that Ukraine will receive the first tranche of revenues from the frozen assets of the Russian Federation by the end of summer. The first payment of 1.5 billion euros is expected to reach Ukraine by the end of the «summer vacation."