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EU Releases $1.89 Billion to Ukraine for Economic Stability and Governance Support
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![Photo of Dariia Mykhailenko]( "Photo of Dariia Mykhailenko")
The Council of the European Union has approved a $1.89 billion fifth tranche of funding for Ukraine under the Ukraine Facility program.
According to the EU Council on November 4, Ukraine met the required conditions to receive this payment.
The funds will be released following the EU’s assessment that Ukraine successfully completed nine out of ten actions required for this stage, along with one unresolved action from the previous tranche.
“The funding aims primarily to bolster Ukraine’s macro-financial stability and support the continued operation of its public administration,” the EU Council stated.
In addition, on October 29, the European Union approved an additional $53 million in funding guarantees to support the joint HEAL Ukraine project, a collaboration between Ukraine’s Ministry of Health and the World Bank.
The announcement followed the fifth meeting of the Steering Committee of the Ukraine Investment Framework.
This funding will aid the reconstruction of hospitals heavily damaged by the war or facing increased operational pressures, particularly those treating internally displaced persons.
The support will cover all key phases of the project, including feasibility studies, environmental and social impact assessments, design and tender documentation, construction works, technical oversight, and the procurement of modern medical and laboratory equipment.
Earlier, it was reported that Germany is increasing its assistance to Ukraine’s energy security, pledging approximately $70 million to the Energy Support Fund for Ukraine.
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