Ukraine receives another 1.9 bln euros under Ukraine Facility

MOSCOW. June 27 (Interfax) - Ukraine on Thursday received a third tranche of 1.9 billion euros of funding from the EU under the Ukraine Facility, Ukrainian media reported, quoting the Finance Ministry.

Since the start of the military operation, the EU has provided Ukraine with "almost 35 billion euros in direct budget assistance," Finance Minister Sergei Marchenko was quoted as saying in the release.

Ukraine received 4.5 billion euros under this instrument in March and another 1.5 billion euros in April.

This week Ukraine and the EU signed an agreement for a total of 27 billion euros in 2024-2027 in the framework of the Ukraine Facility instrument.

The European Union in the middle of May finally approved the plan developed by the government of Ukraine for the restoration, reconstruction and modernization of the country, a prerequisite for the implementation of the Ukraine Facility mechanism in the amount of 50 billion euros. The European Commission approved the plan in mid-April.

The Ukraine Facility budget will be 33 billion euros in loans and 17 billion euros in grants. Of the total amount, 38.27 billion euros will support the budget, 6.97 billion euros will go to the investment fund and 4.76 billion euros will be for technical and administrative support.