Ukraine signed a financial agreement with the EU for €5.27 billion as part of the Ukraine Facility

Illustrative photo from open sources

Ukraine has signed an agreement with the European Union that regulates the receipt of grant aid under the Ukraine Facility in the amount of 5.27 billion euros over the next four years.

This is reported by the government portal.

The corresponding decision to attract grant support from the EU was made at the government meeting last week.

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«The government has finalized the agreement between Ukraine and the EU within the framework of the Ukraine Facility. The signing of the Agreement on the attraction of grant support for 5.27 billion euros over the next four years will contribute to the stabilization of the macroeconomic and financial situation in the country and provide the necessary resources to support key sectors of the economy. This is the last agreement that is necessary for the full launch of the Ukraine Facility program. We are grateful to the EU for helping to restore Ukraine and creating new investment opportunities in the long term,» said Yuliia Svyrydenko, First Deputy Prime Minister of Ukraine, Minister of Economy of Ukraine.

The total budget support within the framework of the first component of the program, including credit and grant funds, amounts to 38.27 billion euros. The program will ensure the receipt of tranches in accordance with the quarterly schedule of indicators. In total, in 2024, Ukraine expects to receive 16 billion euros of support, of which 3 billion euros will be grant aid.

Ukraine Facility is a program of financial support for Ukraine from the European Union. During the years 2024-2027, money from the EU will be directed to financing the state budget, stimulating investments, as well as technical support in the implementation of the program.

We will remind that in May the Council of the European Union finally approved the plan of Ukraine, necessary for the implementation of the Ukraine Facility program in the amount of 50 billion euros.