Ukraine will get another tranche out of €50 billion ($54.3 billion) in the Ukraine Facility Program, European Commission President Ursula von der Leyen announced on Friday, Oct. 18, a European Pravda correspondent reported from a post-EU summit press conference in Brussels.
Von der Leyen did not specify the sum of the future tranche. However, the EU has already allocated €12 billion ($13 billion) since the start of the program in March 2024.
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The Ukraine Facility Program provides for investments for four years, from 2024 to 2027 and its benchmarks are tied to Ukraine’s implementation of its reform plan.
The previous tranche of almost €4.2 billion ($4.56 billion) as part of the Ukraine Facility Program was transferred to the Kyiv government by the European Commission in August, European Pravda reported.
What is the Ukraine Facility Framework
The Ukraine Facility is the European Union’s instrument to bolster the country’s resilience, foster its recovery after Russia’s full-scale invasion in February 2022, and facilitate its path toward EU membership.
It consists of three pillars aimed to finance both the state budget and private enterprises in Ukraine.
Financial assistance to Ukraine in Pillar I comprises a total of €38.27 billion ($41.56 billion), in both grants (€5.27 billion/$5.72 billion) and loans (€33 billion/$35.84 billion). The support is conditional upon fulfillment of reform requirements for EU accession, including macro-financial stability, budget oversight, public financial management, sectoral and structural reforms, and investments.
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Pillar II is aimed at public and private investments for Ukraine’s recovery and reconstruction. Ukraine’s Ministry of Economy is responsible for gathering applications for EU funding for private enterprises.
Pillar III comprises a sum of €4.76 billion ($5.17 billion), focused on providing technical assistance and support measures to facilitate Ukraine’s alignment with EU laws and regulations.
