Translated with AI
Ukraine has met the necessary conditions to receive the fifth tranche of financial assistance under the European Union's Ukraine Facility, the Council of the European Union announced. The total amount of the tranche will be over €1.8 billion.
The EU Council's statement notes that this amount reflects Ukraine's successful completion of the nine steps required to receive the fifth tranche, as well as the remaining step of the fourth tranche. The funds are primarily intended to strengthen Ukraine's macro-financial stability and support the country's public administration.
The Ukraine Facility support mechanism is designed for the period from 2024 to 2027 and provides Ukraine with up to €50 billion in stable and predictable financial assistance.
Prior to this, the European Union had already allocated 6 billion euros to Ukraine in the form of bridge financing, 1.89 billion euros in advance financing, as well as four tranches of 4.2 billion, 4.1 billion, 3.5 billion and 3.2 billion euros.
The European Commission emphasized that disbursements under the Ukraine Facility are closely linked to Ukraine's implementation of a specific recovery and reform plan, as well as support for democratic mechanisms, the rule of law, and human rights. Disbursements are made quarterly following the European Commission's review of compliance with the conditions for the provision of financial assistance.
