The Council of the European Union has agreed to disburse EUR 4.2 billion to Ukraine for meeting the Q2 2024 targets set out in the Ukraine Action Plan under the Ukraine Facility programme. The macro-financial support is expected to be transferred to the state budget in the near future.

"We are grateful to our partners for the positive decision on the new tranche of EUR 4.2 billion. Ukraine is successfully and timely implementing the steps envisaged by the Ukraine Plan, and that is a prerequisite for receiving financial support from the European Union. We are currently working on meeting the indicators for the Q3, which will enable the country to receive the next EUR 4 billion tranche in November this year. This is extremely important, as it is thanks to these funds that we can provide social spending. At the same time, Ukraine cannot use this funding for military needs, so almost everything we earn domestically is used to support the security and defence sector," said Yuliia Svyrydenko, First Deputy Prime Minister of Ukraine and Minister of Economy of Ukraine.

Thus, in Q2 2024, Ukraine fulfilled 9 indicators set out in the Ukraine Facility Plan. These include steps in the areas of digitalisation of the State Customs Service, budget planning, public investment reform, anti-corruption, corporate governance for state-owned companies, the relaunch of the Bureau of Economic Security, and the approval of the Integrated National Plan for energy and climate, the adoption of the Strategy and Plan for Thermal Modernisation of Buildings until 2050, and the adoption of the Mine Action Strategy until 2033.

In total, in 2024, Ukraine expects to receive EUR 16 billion of support, with EUR 3 billion of it coming in the form of grants. During Q3 2024, Ukraine plans to fulfil the following 9 indicators, which will allow it to receive EUR 4 billion, with EUR 1.5 billion of this amount coming from grant funding.

As a reminder, the Ministry of Economy submits quarterly reports to the European Commission on the implementation of the indicators of the Ukraine Plan. Upon a positive assessment by the European Commission and EU member states, the decision to allocate funds is approved by the EU Council.