European Commission Allocates €1.5 Billion in Financial Aid to Ukraine

The European Commission has announced the allocation of a significant tranche of financial assistance. On Wednesday, April 24th, the Commission unveiled plans to provide Ukraine with €1.5 billion as part of a larger macro-financial aid package totaling €50 billion.

Ursula von der Leyen, the President of the European Commission, emphasized the critical importance of these funds in sustaining Ukraine’s state services amidst the challenges posed by Russian aggression: “Ukraine is carrying a heavy burden on its shoulders for all of us. Today, we disburse an additional €1.5 billion, under the €50 billion Ukraine Facility. This is vital to keep Ukraine’s state & services running, while it fights back the aggressor. Europe remains united and resolute.”

This allocation follows a previous payment of €1.6 billion made by the European Commission in April under the Ukraine Facility program. The program, initiated by the European Parliament and subsequently approved by the EU Council, aims to provide comprehensive support to Ukraine over the course of four years, totaling €50 billion.