European Commission praises Kiev's compliance with 4.2 bln euro Ukraine Facility terms - Ukrainian Finance Ministry

MOSCOW. July 18 (Interfax) - The European Commission on Wednesday approved Ukraine's compliance with the indicators set out in the Ukraine Plan for receiving funding under the Ukraine Facility in the second quarter of 2024, Ukrainian media reported quoting the Finance Ministry as saying.

"The positive assessment of the European Commission paves the way for the disbursement of the first regular payment (which is subject to the performance of the indicators) in the amount of 4.2 billion euros. The decision must also be adopted by the EU Council," the ministry said.

Ukraine has performed all nine indicators set out in the Ukraine Plan, it said.

President of the European Commission Ursula von der Leyen acknowledged Ukraine's commitment to reforms and reiterated the EU's continued support for its macro-financial stability, it said.

The Ukrainian state budget has already received 7.9 billion euros under the Ukraine Facility, including 6 billion euros of bridge financing in two tranches and 1.9 billion euros of pre-financing. The next tranches are to come on a quarterly basis given that Ukraine complies with the Ukraine Plan indicators for the Ukraine Facility and this performance is approved by the EU.

Deputy Prime Minister and Finance Minister Yulia Sviridenko said on Wednesday she expected a 4.2-billion-euro tranche should arrive in September. The Finance Ministry was not that specific and said it expected to receive it in the fall.

The Ukraine Facility is an instrument under which Ukraine is to receive a total of 50 billion euros in financial and technical support in 2024-2027. Of the total amount, 38.27 billion euros will support the budget, (including 5.27 billion euros in grants), 6.97 billion euros will go to the investment fund, and 4.76 billion euros will be for technical and administrative support.