Economy

50 billion euros for Ukraine: European Commission President announces the date of the first tranche

Ukraine will receive the first tranche of the €50 billion Ukraine Facility programme in March. European Commission President Ursula von der Leyen wrote about this on Twitter, according to the

“This programme consists of €17 billion in grants and €33 billion in loans. The mechanism provides not only for financing budgetary areas in Ukraine during the war, but also for programmes aimed at implementing the reforms on which Ukraine’s accession to the EU depends.

According to the head of the European Commission, the agreement concluded on the evening of 5 February is a significant step forward and a confirmation of Europe’s commitment to its obligations.

Ursula von der Leyen stressed that the European Union will continue to provide the necessary and predictable funding to “our courageous partner and future member”.

“We plan to start disbursements in March,” she added,

– she added.

EU leaders at a summit on 1 February approved the allocation of €50 billion for Ukraine under the Ukraine Facility programme for 2024-2027.

On 5 February, the EU Council and the European Parliament reached a preliminary agreement on the creation of a new instrument to support the recovery, reconstruction and modernisation of Ukraine – the Ukraine Facility.

The document is expected to be approved at the European Parliament’s plenary session scheduled for 26-29 February 2024.

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