This week, Ukraine expects to receive a €1.5 billion tranche from the European Union under the Ukraine Facility program, reported Prime Minister of Ukraine Denys Shmyhal during a meeting of the Cabinet of Ministers.
"The European Commission has supported the Ukraine Plan under the Ukraine Facility program. This week, we expect to receive 1.5 billion euros under this European Union program," said Shmyhal.
As the Prime Minister explained, today the government is also adopting a decision to attract an additional 100 million euros from the Council of Europe Development Bank to restore Ukrainian healthcare.
Another decision adds 15 million euros from the European Investment Bank as part of the banking guarantee program financing.
"This will improve the conditions for obtaining preferential loans for Ukrainian small and medium-sized enterprises. Thus, we are accumulating financial resources for the defense, resilience, and restoration of our country and our economy," Shmyhal noted.
50 billion euros for Ukraine
On February 1, the leaders of the European Union countries at a special summit supported providing Ukraine with €50 billion by 2027. The funds are to be transferred under the Ukraine Facility program.
According to the program, Ukraine must meet certain conditions to receive financial assistance from the EU. If this does not happen, the payment of funds will be suspended.
On February 28, the EU Council finally approved the program. This meant that it came into effect, and Ukraine could receive the first funds.
On March 20, EU diplomacy chief Josep Borrell announced that the European Commission had transferred the first tranche of €4.5 billion to Ukraine.
