Dombrovskis: EU plans to launch €90B credit facility for Ukraine in April

The EU is finalizing the legal and technical procedures for a €90 billion loan to Ukraine, with a view to beginning disbursement in April, Commissioner for Economy and Productivity, Valdis Dombrovskis, said ahead of the meeting of the European Economic and Financial Affairs Council (ECOFIN), Report informs.

According to him, at the meeting, EU ministers will be updated on the progress of the Serving Abroad for Families and Employees (SAFE) Program. Under this initiative, investment plans from 16 EU member states totaling €113 billion have already been positively assessed.

Furthermore, ministers are expected to approve Austria's national clause, which allows for increased defense spending.

The Commissioner added that the meeting participants will be updated on the implementation of the Recovery and Resilience Facility, which expires at the end of August this year.

"What is really needed now is to focus on implementing recovery and resilience plans," Dombrovskis emphasized.