EU Council Greenlights €4.2 Billion Support Package for Ukraine Under Ukraine Facility Plan

The Council of the European Union approved on Tuesday, August 6, the allocation of €4.2 billion of macro-financial assistance to Ukraine, in the form of grants and loans under the Ukraine Facility program.

This was announced by the Hungarian Presidency of the Council of the EU.

“With the completion of the written procedure, the Council has adopted an implementing decision today, authorizing the first payment of nearly €4.2 billion under the #UkraineFacility. This decision supports Ukraine's macro-financial stability and the functioning of its public administration,” the post stated.

The press center of the Council of the EU noted that Ukraine has satisfied the necessary conditions and reforms envisaged in the Ukraine Plan for receiving the funds

“These reforms cover public financial management, governance of state-owned enterprises, business environment, energy and demining,” the statement said.

The adopted decision also stressed the importance of allocating the money as soon as possible, given the difficult fiscal situation in Ukraine.

The Ukraine Plan outlines Ukraine’s goals for recovery, reconstruction, and modernization over the next four years, as well as the reforms it aims to implement as part of its EU accession process.

In May 2024, the Council determined that the Ukraine Plan met the requirements for Ukraine to qualify for up to €50 billion in support through the Ukraine Facility.

The European Commission approved the disbursement of the $4.2 billion to Ukraine under the Ukraine Facility program back in July.