EU Approves €4.2 Billion Payment to Kiev
The European Council has approved the first four point two billion euro payment of the fifty billion euro Ukraine Facility, aimed at supporting Ukraine through 2027. The program provides financial aid for Ukraine’s recovery and is contingent on meeting certain requirements. A separate one point four billion euro loan program will use interest from frozen Russian assets.
The European Council ambassadors have approved the first €4.2 billion payment of the €50 billion Ukraine Facility, a financial support program for Ukraine through 2027.
The program, established last summer, aims to provide predictable financial aid for Ukraine’s recovery, reconstruction, and modernization.
The Hungarian presidency of the council confirmed this development, and the council will now follow the written procedure to disburse the funds.
The EU had earlier allocated €7.8 billion under interim arrangements, with regular quarterly payments contingent on Kiev meeting pre-agreed requirements.
This funding differs from the separate €1.4 billion loan program, using interest from frozen Russian assets.
The program, established last summer, aims to provide predictable financial aid for Ukraine’s recovery, reconstruction, and modernization.
The Hungarian presidency of the council confirmed this development, and the council will now follow the written procedure to disburse the funds.
The EU had earlier allocated €7.8 billion under interim arrangements, with regular quarterly payments contingent on Kiev meeting pre-agreed requirements.
This funding differs from the separate €1.4 billion loan program, using interest from frozen Russian assets.
