Ukraine inks deal with EU on grant assistance worth 5.27B euros

First Deputy Prime Minister and Minister of Economy of Ukraine Yuliia Svyrydenko has signed a financial agreement between Ukraine and the EU providing for 5.27 billion euros in grant assistance under the Ukraine Facility over the next four years, Report informs referring to the Ukraine government website.

The decision to attract grant support from the EU was made at a government meeting last week.

“The Government has finalized the agreement between Ukraine and the EU under the Ukraine Facility. The signing of the agreement to attract 5.27 billion euros in grant support over the next four years will help stabilize the macroeconomic and financial situation in the country and provide the necessary resources to support key sectors of the economy. This is the last agreement needed to make the Ukraine Facility programme fully operational. We are grateful to the EU for its assistance in Ukraine’s recovery and for creating new investment opportunities in the long term,” said Yuliia Svyrydenko.

The total budgetary support under the first component of the program, including loans and grants, amounts to 38.27 billion euros. The program will provide tranches in accordance with the quarterly schedule of indicators. In total, Ukraine expects to receive 16 billion euros of support in 2024, of which 3 billion euros will be in the form of grants.