Ukraine will receive nearly €3 billion in the coming period after the Council of the EU approved the eighth regular tranche under the Ukraine Facility.
Source: a press release by the Council of the EU, as reported by European Pravda
Details: The Council of the EU noted that nearly €800 million of the amount would be provided for the first time through a loan to support Ukraine.
Quote: "The payment approved today reflects Ukraine's successful completion of 10 target steps. Ukraine has met 84 of the 95 target steps required under the Plan to date, representing approximately 88% of the steps due so far."
Details: On 24 September, the Council of the EU also amended the Ukraine Plan to include a voluntary financial contribution from Norway of approximately €92 million in the form of non-repayable assistance.
The Ukraine support mechanism allows EU member states, third countries and international organisations to make voluntary contributions. Sweden has already made additional voluntary contributions totalling more than €253 million over the past year.
It was previously reported which reforms Ukraine had to implement to receive this tranche.
Background:
- On 24 August, Ukraine requested payment of parts of the fifth, seventh and eighth tranches under the Ukraine Plan of the Ukraine Facility mechanism, totalling €3 billion.
- On 30 July, the Council of the EU approved an updated reform plan under the Ukraine Facility, allowing Ukraine to receive €8.3 billion in 2026 to cover budget needs.
Your support on Patreon helps us keep the news free and accessible.
Originally reported by Ukrainska Pravda by Iryna Kutielieva,STANISLAV POHORILOV. Read the full story at the source.
Comments
No comments yet. Be the first to share your thoughts.
Leave a Comment