EU to pay Kiev second regular macro-financial aid tranche of 4.2 bln euros under Ukraine Facility

BRUSSELS. Dec 9 (Interfax) - The Council of the European Union said on Monday it had approved the second regular payment of over 4.2 billion euros in grants and loans under the EU's Ukraine Facility to support Ukraine's macro-financial stability and the functioning of its public administration.

"In a decision adopted today, the Council 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 Council of the EU said in a communique.

It is important to allocate the money as soon as possible, the communique said.

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," it said.

The Council of the EU concluded in May 2024 that the Ukraine Plan fulfilled the preconditions for Ukraine to receive up to 50 billion euros in support under the Ukraine Facility, and the first EU instalment was disbursed in August.

The Ukraine Facility foresees up to 50 billion euros "of stable financing, in grants and loans" to support Ukraine's recovery, reconstruction, and modernization for the period from 2024 to 2027.