The disbursement of macro-financial assistance to Ukraine under the Ukrainian Facility instrument will be linked to the implementation of reforms. This was stated by the Executive Vice-President of the European Commission, Valdis Dombrovskis, following the meeting of the EU Economic and Financial Affairs Council.
50 billion euros for Ukraine from the EU
Today, the EU Council approved the reform plan from the Ukrainian government, necessary to receive funding through the Ukrainian Facility.
Valdis Dombrovskis says that the EU is currently providing interim financing, which was important for ensuring Ukraine’s financing, especially in the first quarter of this year.
The next step will be the disbursement of 1.9 billion euros in interim financing immediately after the signing of the loan agreement. Subsequent payments are expected in September and November of this year.
However, the subsequent payments will be linked to the implementation of reforms and investments agreed upon in the plan. So, in a certain sense, it is very important for the Ukrainian authorities to focus on the proper execution of the plan, – said Dombrovskis.
He emphasized that the corresponding plan will not only ensure financing according to the logic of macro-financial assistance but will also help implement reforms and attract investments necessary for the reconstruction of Ukraine and EU membership.
This means that the financing gap for Ukraine for this year is largely covered. But together with international partners, we will now need to focus on the financial support needed through 2025, – he said.
Note!
The Vice-President of the European Commission also noted the decision of the US Congress to allocate assistance amounting to 61 billion dollars.
