The Council of the European Union has approved the disbursement of €3.5 billion to Ukraine as part of a macrofinancial assistance program. The decision, made during a meeting in Brussels, brings Ukraine’s total received aid under the Ukraine Facility to nearly €20 billion since the program’s launch a year ago.
According to the EU Council, Ukraine met 13 required reform steps to secure the funds. These measures include expanding renewable energy use, strengthening the energy regulator’s autonomy, simplifying border procedures to align with EU standards, adopting an agricultural and rural development strategy, and continuing efforts to clear landmines from farmlands.
The Ukraine Facility, which took effect on March 1, 2024, provides up to €50 billion in grants and loans to support Ukraine’s recovery, reconstruction, and modernization through 2027. This latest financial injection aims to further bolster the country’s economic stability and reform efforts amid ongoing challenges.
