Translated with AI
The Council of the European Union approved the disbursement of the fourth tranche of financial assistance to Ukraine, amounting to €3.2 billion, under the Ukraine Facility. This was announced in a statement published on the Council's website on Friday.
According to the European Commission, the Ukraine Facility program is designed for 2024–2027 and provides up to €50 billion to strengthen Ukraine's macro-financial stability, support the functioning of public administration, and implement reforms. Since the mechanism's inception, Kyiv has already received €6 billion in bridge financing, €1.89 billion in advances, and three tranches of €4.2 billion, €4.1 billion, and €3.5 billion.
Disbursements under the program are contingent on Ukraine's implementation of the approved recovery and reform plan, as well as adherence to the principles of democracy, the rule of law, and human rights. Payments are made quarterly after verification of compliance.
Kyiv submitted its request for the next tranche on June 6. Following the assessment, the European Commission recognized that Ukraine had satisfactorily implemented a number of reforms in the areas of public administration, state property management, decentralization and regional policy, green transition, digitalization, the agro-industrial sector, and critical raw materials management.
However, as European Commission spokesman Guillaume Mercier stated, the tranche's size was reduced from the planned €4.5 billion to €3.05 billion due to the failure to implement three mandatory reforms: decentralization, the reform of the Asset Recovery and Management Agency (ARMA), and the procedure for selecting judges for the High Anti-Corruption Court.
