EC approves second payment of over 4.2B euros under Ukraine Facility

Ukraine will soon receive over 4.2 billion euros in funds after the European Council greenlighted the second regular payment of grants and loans under the EU's Ukraine Facility, to support Ukraine's macro-financial stability and the functioning of its public administration, the EC said in a statement, Report informs.

In a decision adopted today, the EC concluded that Ukraine had satisfied the necessary conditions and reforms envisaged in the Ukraine Plan for receiving the funds, which will be disbursed from the Ukraine Facility. The European Council also stressed the importance of allocating the money as soon as possible, given the difficult fiscal situation in Ukraine.

“The Ukraine Plan sets out Ukraine’s intentions regarding the recovery, reconstruction and modernization of the country and the reforms it plans to undertake as part of its EU accession process in the next four years,” reads the statement.