The Council of the European Union today voted to approve the second planned disbursement to Ukraine of around EUR 4.2 billion under the EU’s Ukraine Facility initiative. The Council’s implementing decision is the final stage of approval before the funds are released to the state budget. In November, the European Commission approved the allocation of the tranche. The money is expected to be disbursed in December, bringing the total amount of funding to EUR 16.1 billion in 2024.

“Ukraine is successfully and timely implementing the reforms envisaged in the Ukraine Facility Plan, consistently meeting all the indicators of the Plan, and this is the key to stable financial support from the European Union. We are grateful to our partners for their positive decision on the new tranche of over EUR 4 billion. It will help us to strengthen Ukraine’s macro-financial stability and ensure social spending. Meanwhile, we continue to work on meeting the fourth quarter targets and implementing reforms. This not only brings us closer to the European Union, but also allows businesses and partners to better plan their work,” said Yuliia Svyrydenko, First Deputy Prime Minister and Minister of Economy of Ukraine.

The Council of the European Union also assessed Ukraine’s second report submitted in October and confirmed that all nine indicators of the Ukraine Facility Plan for the second tranche have been met. These include legislative reforms in the areas of anti-corruption, business environment, labour market, regional policy, energy market and environmental protection.

As a reminder, the Ukraine Facility is a support mechanism for Ukraine aimed at ensuring macro-financial stability and the effective operation of state institutions. According to the Ukraine Facility Plan, the Ministry of Economy is the national coordinator of the Ukraine Facility. The Ministry ensures the organisation and monitoring of the implementation of the Plan and prepares quarterly reports for the European Commission. After a positive assessment by the European Commission and EU member states, the decision to allocate funds is approved by the EU Council.