International

The European Commission offers Ukraine an installment of 1.5 billion euros. Ursula von der Leyen: "Europe remains united and resolute"

The European Commission announced on Wednesday, April 24, the second tranche of 1.5 billion euros of macro-financial assistance for Ukraine, out of a support package totaling 50 billion euros, reports DW.

“Ukraine is carrying a heavy burden on its shoulders for all of us. Today, we disburse an additional €1.5 bn, under the €50 bn Ukraine Facility. This is vital to keep Ukraine's state & services running, while it fights back the aggressor. Europe remains united and resolute”, said the President of the European Commission Ursula Von der Leyen.

EU support program

In March, the European Commission made the first payment of 4.5 billion euros to Ukraine under the " Ukraine Facility" program. This new EU support mechanism for Ukraine, worth 50 billion euros, starts on 1 March 2024 and represents the largest aid ever granted by the EU to a non-member state. The program provides stable funding in the form of grants and loans to support the recovery, reconstruction and modernization of Ukraine in the period 2024-2027. The money is provided in accordance with approved action plans agreed between the national government and the EU.

Up to 32 billion euros from this fund is intended to support reforms and investments, and payments are conditional on the achievement of certain objectives. Around €7 billion will be transferred for financial access and around €5 billion for technical assistance in support of reforms. Another 6 billion euros are earmarked for exceptional transitional funding, an amount that has already been paid, according to the European Commission's website.

X