European Commission disburses another 3.5 billion euros from support for Ukraine
The European Commission (CE) disbursed a third payment of 3.5 billion euros to Ukraine, under the mechanism created for the country. The amount raises the total to nearly 20 billion in a year for expenses and renovations.
« The European Commission continues to support Ukraine with the disbursement of a third regular payment of nearly 3.5 billion euros under the Ukraine support mechanism, » the CE announced in a statement.
« This financing (…) will enable the country’s macrofinance stability to reinforce its public administration and advance fundamental long -term reforms, » he added.
This disbursement increases the full support of the European Union (EU) to Ukraine under the mechanism to about 19.6 billion euros from the beginning of the program on March 1, 2024.
The delivery of this amount arises after the country has met the necessary conditions established in the plan for this third disbursement. In this case after implementing 13 different measures such as the approval of reforms designed to increase the use of renewable energy, the simplification of border passage procedures in accordance with EU standards, the adoption of a strategy for agriculture and rural development and the continuation of the work of elaborating a list of their strategic and critical raw materials.
The Ukraine support mechanism aims to support macrofinance stability and the reconstruction, reconstruction and modernization of the country. The program in question came into force on March 1, 2024 and will make available up to 50 billion euros in stable financing, in the form of grants and loans from 2024 to 2027.
